THE KOG REPORT - Weekly UpdateXAU/USD Spot - GoldFX:XAUUSDKnightsofGoldEnd of day update from us here at KOG: We’ll end a decent week here with an update on the weekly chart which we’ve been sharing over the last few months. A few weeks ago we mentioned that break above and said we wanted the swing low to form, but the defence box would need to break. As you can see it didn’t and as mentioned that one weekly candle broke above and tapped the flip level. We then added the hot spot below for the retracement which was tapped and bounced, and the hot spot above which has been hit and surpassed. We now have support at the 4498 level on a weekly TF while a new hot spot has been added above as a potential target level. We’ll re-visit this on Sunday when we put together the KOG Report as the 4H will give us a better understanding of the retracement levels and of course the defence boxes which have proven to work extremely well. As always, trade safe. KOG