THE KOG REPORT - Update

End of day update from us here at KOG:

Yesterday we said watch that 2320 level as the flip around there can cause the move, we were already suggesting the short from earlier in the day with the move completing, downside hitting our bearish below targets, but then giving us a lovely long trade back up, again on the flip in to the bullish target levels.

So, what now?

We have a caution on longs at the moment with the support level 2325 needing to hold up the price in order for us to target the higher levels of 2340 and above that 2345 which is now a key level for bears to defend. It's going to be an interesting day tomorrow, if you're going to long, make sure that pullback holds, and take it level to level. As we said yesterday, don't get to eager thinking they're going to move is at extreme, this sideways chop continues to play and the breakout looks like it will be soon.

Support 2325-23
Resistance 2335 in extension of the move 2345

KOG's bias levels for the day are complete both down and up, so we'll re-assess tomorrow.

As always, trade safe.

KOG