THE KOG REPORT - Update

End of day update from us here at KOG:

Even though we're seeing this whipsawing, we're still within this potential higher range which has been created. Earlier today we anticipated the move upside so took the long trade giving a decent capture, but to be honest longs are now making us a little uncomfortable. There is a lot below the price that needs cleaning up and a sudden spurt of volume can flush this all the way down into the low 2000's. So for that reason, we'll look at the resistance level above 2270-5, which if held again, we feel will open the 2250 level which will need to break to go lower. We'll have to take it level to level, as no RIP from that level will complete this move we have been anticipating on the KOG Report.

So, for now, longs with caution, we'll stick with the plan with 2250 and then the hurdle of 2235 as potential. Break above and we'll re-visit it. NFP on Friday, we should see more aggressive movement tomorrow before we settle in the pre-event range.

As always, trade safe.

KOG