XAUUSD 4H - Levels

Quick end of day update from us following on from the KOG report published yesterday.

So we've come down in to the lower support region as we expected yesterday. We can see the price now attempting to break the support level, what we want to see is if we get a pullback up towards that 1970-75 level and if that level acts as resistance before then breaking this immediate support level. We initially wanted to go long from this level to target the 2003-5 but we're holding back at the moment due to the structure of the chart. As it is support stands at 1950 and resistance at 1970-75 so we may see some more ranging price action over the coming sessions.

Either way, if you got the short and followed the illustration well done. We'll be back with our morning update tomorrow.

As always, trade safe.

KOG