XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

We're sticking with the chart so far, using the levels to short but as you can see the range is only giving opportunity to scalp it. Today we did a top down in the server and managed to find some patterns which gave us an indication of what potentially on the horizon. You will notice we've changed the chart from the KOG report a little, we've added a higher level and we've increased the target to the downside. We can now see the range becoming smaller and the moving averages starting to group together, these are signs of a pending breakout! Shorts should be protected if you're in from the higher levels incase there's a extension of the swing to the upside, the level to look for is on the chart.

From Camelot this morning:

XAUUSD 16/11/22 1H

Support: 1775 / 1771 / 1765 / 1755 / 1750 / 1737 / 1735 / 1730

Resistance: 1770 / 1775/ 1778 / 1785 / 1792 /1800 / 1803

KOGs Bias for the day:

Bullish above 1768 with targets above 1790 and above that 1795

Bearish on break of 1768 with targets below 1755 and below that 1735

Summary:

MA’s on the hourly are now being dragged up and starting to group together pending another break out. We saw Gold attempt to break the low yesterday but the move wasn’t sustainable, it’s now attempting to fill the voids left over. Would suggest caution again as its looking like 1800 is on the horizon but key levels above here are important! Institutions don’t wait for round numbers!