XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

Yesterday we said Gold looked like it wanted higher and to look for the lower support regions to hold to take this up, we also said it would be likely that the price will find a range between the higher resistance and lower support. We also shared this morning the levels to look for and for price to remain above as that 1755 level was sticking out to us, as you can see the move is now complete.

We have indications of higher pricing before a potential drop, however, with Jackson Hole on Friday its not un-common for there to be a liquidity swing which will trap traders in the wrong direction. Longing the market up here in key level short squeeze regions isn't a great idea, we would suggest waiting for lower support level to hold up if you are going to go long, or wait for the level to break and then turn into support. Until it breaks, its should come down into the 1745 and below that 1740 regions.

From Camelot this morning:

XAUUSD 24/08/22 1H

Support: 1735 / 1730 / 1722 / 1720

Resistance: 1747 / 1745 / 1740 / 1744 / 1750 / 1755

KOGs Bias for the day:

Bullish above 1730 with targets above 1755 and above that 1762

Bearish on the break and close of 1730 with targets below 1720 and below that 1713

Summary:

Expecting this to range today between those key levels mentioned yesterday. Lower support is 1730-35 with higher resistance at 1750-55.