KOG Report 14/08/22

Hourly chart:

This week we’re going to keep the KOG Reports simple as we’ve haven’t had time to put an in-depth review together as we usually do.

In last week’s KOG Report, we suggested it was likely that the price would want to try to break the 1800 level and could see higher prices starting at 1798. We gave a level on the chart of around 1808 which was the first region we expected a reaction in price and a short. As you can see we hit that level to the pip on last week’s report giving us not only a fantastic long from support but a phenomenal short from resistance.

We’ve hit the level we wanted on Friday where we said to look for support around the 1790 region. The support has moved to the upside and now stands at 1794, above this level we would say look for higher pricing with the potential for early sessions to hit the highs of around 1806-8 before any sign of weakness. It’s a down and up, or a up and down on this chart.

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