THE KOG REPORT XAU/USD SpotFX:XAUUSDKnightsofGoldTHE KOG REPORT: In last week’s KOG Report, we wanted to see the immediate resistance fail and give us the short trade into defence which worked well. Due to there being now break of defence and our indicators suggesting a long, we managed to get a long into the higher defence box which ultimately broke. You can see the pull back having taken place and the result was our red box targets and target region on Excalibur being completed for the end of the week. The power of boxes and Excalibur coupled with the indicators again giving us direction for the market and a decent result on gold. So, what can we expect for the week ahead? Quick one this week so in brief. Key level resistance for Monday is the 4310 region which will need to break to then attempt a higher high, while the key level of support is sitting at 4260-5 and below that 4250. If either of these levels below are targeted and we get a RIP, we’ll be looking to long into the higher level. It’s that higher level that needs to be monitored this week and will need to break! Failure again there can result in another strong sell off coming up to the Christmas break so let’s play caution and remember it’s December; liquidity is all over the chart and many institutions are winding down for the festive period. December is known to be a very choppy month as most professional traders take it easy. RED BOXES: Break above 4310 for 4320, 4333, 4335 and 4348 in extension of the move Break below 4290 for 4275, 4365, 4260 and 4253 in extension of the move Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG