THE KOG REPORT - Update

End of day update from us here at KOG:

Nice move upside in the early session giving traders that long they were looking for last week, hitting the target level we had published on the chart. During the day we suggested traders only look for scalps on the short trades and consider the extension of the move while the short terminated at the immediate support region.

Now we have resistance at the 2335 region and support 2320-25 which again is holding up the price and producing the gradual incline. We've circled the region for the extension which needs to be taken seriously as price is again starting to accumulate in this region. For now, we'll stick with the plan unless we break above that 2345 region aggressively.

As always, trade safe.

KOG

Kommentar:

We're approaching our level of interest here which was circled yesterday. Support now turns to 2330-25 which needs to break, no clear sign of any reversal, so we'll hold tight for now. Longs taken or protected leaving runners please