XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

Although the range was frustrating Excalibur was giving numerous indications of the swoop of the lows hence we remained with the bearish below bias. The 2007-10 was a good target for the long trades from support and for those that waited for the manipulation to be over with, the level gave a nice TAP AND BOUNCE! Those in and still holding please make sure to take partials and protect your trades. Support level 1980 looks like the first likely target region where we may see a RIP which could be temporary.

We'll stick with the plan for now so please refer to the KOG Report.

From Camelot this morning:

XAUUSD 26/04/23 1H

Support: 1992 / 1988 / 1985 / 1977 / 1975 / 1970 / 1962

Resistance: 1997 / 2002 / 2005 / 2007 / 2010/ 2013 /2018 / 2027

Price: 1996

KOG’s Bias for the day:

Bearish below 2007 with targets below 1985 and below that 1975

Bullish on break of 2007 with targets above 2020 and above that 2030

Summary:

Price is playing numerous patterns within the range with the 4H being the clearest to trade due to the accumulation and liquidity grabs we’ve seen yesterday. We still have a few Excalibur targets below so we’ll remain with the bias bearish below for now. We’re at exactly the same price point as this time yesterday with the support level of 1990 which needs to break for this to go lower and the resistance level of 2003 which needs to break followed by 2007 for this to go higher. No major news in the economic calendar so we could see another range bound day on Gold.

As always, trade safe.

KOG