THE KOG REPORT - Update (Short target complete)

١٦ مايو

End of day update from us here at KOG:

Yesterday we said we would be looking for price to go up towards the 2385-2390-95 region where is the opportunity presented itself, a short would be available to test into the lower support region where we were expecting a RIP. Price moves well into the region, giving the short and tapping straight into the region completing the short target level we gave. We had the added benefit of a tap and bounce from the level bringing us up to where we are now.

So, what now?

We have resistance at the 2385-90 region again, and below this price level we feel there is potential for a move down in attempt to break that support level 2375 and take us into the 2360-65 price point before we then see another reaction in price.

Again, we're too high up to long so keep an eye on the region for a RIP, as breaking above will take us higher in to the 2410-15 price points for tomorrow. Unless you're already long from the lower support, in which case, protect and take some off the table in preparation for the Asian session.

As always, trade safe.

KOG