THE KOG REPORT - Update

End of week update from us here at KOG:

It's been an interesting week, frustrating range, choppy price action and very skewed movement across the markets.

We have however stuck with the plan for most of it, even though the market presented some curveballs we managed to get the long trades in from the start of the week, following the plan into the order region which is where our bias level was sitting. Gave us a nice buffer for the week and a great capture where it was then suggested traders should now take it easy and await the pending news releases to come. The order region was slightly extended but held the price down on the reversal then giving us the opportunity to stick with the plan and short it looking for the lower levels. We protected and took partials hoping for lower pricing, however, the range and accumulation has other ideas.

All in all, we're happy with what we've taken out of the markets as well as the analysis, daily levels, red boxes, hot spots and of course Excalibur and LiTE giving us another fantastic week in the Castle.

So, what now?

Support below stands at the 2320 price point with resistance now 2335 which will need to break to go higher. There is a chance now for a late session move, so we've boxed the potential range until the close. Ideally, you wouldn't want to get involved in the markets now, rather wait for the daily and weekly closes and we'll come back and make a plan for next week.

Wishing you all a great weekend, see you on Sunday for the KOG Report.

As always, trade safe.

KOG