XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

We were looking for the move down yesterday into the support level below which we achieved early session. We are now looking for the price to go a little higher where we are looking for resistance and a reaction in price. Support stands at the 1705-6 price level making this the region that we need to stay above for this to go higher. We’ve been saying in the last KOG reports that we’re expecting a small bull run on Gold, what we want to see is where and how they find the low. We’re not worried about getting in from the bottom, rather confirm the low then get in.

From Camelot this morning:

XAUUSD 07/09/22 1H

Support: 1701 / 1697 / 1694 / 1690 / 1688

Resistance: 1705 / 1708 / 1717 / 1720 / 1725

KOGs Bias for the day:

Bearish below 1708 with targets below 1697 and below that 1694

Bullish on break of 1708 with targets above 1720 and above that 1727

Summary:

We’ve hit the Excalibur short target and Price bounced from support this morning to now come back to challenge the resistance level which should be 1707-8. Its important for the price to stay below this level to resume the move to the downside.