XAUUSD - KOG REPORT UPDATE:

As per the KOG Report yesterday we were looking for the levels below to hold for a bounce, it was a bit of a stretch going into 1626 but it gave the bounce, however, only into immediate resistance! Looks like its creating another higher volume region of orders so potential to spike up and down in the range before another breakout!

We'll stick with the plan, level to level on the way down following Excalibur targets. Illustrated on the chart are the potential levels to look for a reaction in price.

Extremely volatile markets with the end of the month approaching, please trade carefully or not at all!

From Camelot this morning:

XAUUSD 26/09/22 1H

Support: 1642 / 1638 / 1634 / 1627 / 1622

Resistance: 1650 / 1652 / 1660 / 1663 / 1668 / 1677

KOGs Bias for the day:

Bearish below 1660 with targets below 1635 and below that 1625

Bullish on break of 1660 with targets above 1665 and above that 1675

Summary:

The 4H support ideally was the 1630 level before the push up, however, it looks like they wanted to stretch the stops so tapped a little lower into 1626 before the bounce. Looks like its going to target that resistance level at some point so be careful with the shorts, 1650-55 looks like likely