XAUUSD 4H - Levels

16 Ara 2021

Quick update from us. We’ve done a point to point move now on Gold as we suggested in the illustration on the KOG Report published on Sunday. We’ve hit our first bullish target of 1795-7 which we were expecting to happen as the seasonal move was due. We have higher targets of 1804-7 and above that 1810-14 which we would like to see complete before potentially resuming the bearish move. The chart shows the potential H&S on the 4H TF, if this is accurate then we should see a spike up towards that 1804-7 level and face some strong resistance. Bulls are trying to drive this above 1800 and 1797 is a strong level that needs to break and hold with a daily close above it.

Below is the chart from the KOG report, if you haven’t already please do read the report for a more in-depth view.

As always, trade safe.

KOG