THE KOG REPORT - Update

End of day update from us here at KOG:

Yesterday we said we wouldn't be looking to long the market, instead we would want the higher level to be tested so that we could short the market into the highlighted region we had given on the KOG Report. We would love to say we got the perfect short but the market moved early session from the get go, not giving the higher level we wanted to get in. Instead Excalibur activations and KOG's red boxes kept us level to level on the way down to where we are now, completing the move we had suggested.

So, what now?

After a move like today, we don't think they're done yet, but we would like to see some retracement on price in the coming session before we settle pre-event tomorrow.

We have the lower levels 2270-75 as a potential target region with resistance now on the flip 2310. You can see we're in an order region as well, we would like to see if we close the month here and settle. Its one of two scenarios now, if we go down we'll look to go long from support, if we go up into order, we'll look to short it again.

FOMC tomorrow so please be careful, try to get out of positions and know the trade comes after the event. We'll be back with the FOMC KOG Report tomorrow.

As always, trade safe.

KOG