Trading: Spot Gold (XAU/USD)

Trade Gold with Unum Capital.

To get started, email lester@unum.co.za

The price action model suggests that gold is currently in a strong bullish trend across all timeframes. However, it cautions against chasing the price, as a failure to hold the highs could signal a potential reversal. Aggressive buyers are advised to wait for a pullback before entering the market, while short-sellers should be cautious as the current trend favors higher prices. The model emphasizes the importance of monitoring the 8- and 21-day Exponential Moving Averages (EMAs) as potential short-sell targets if the price fails to hold the highs.

Lester Davids

Analyst: Unum Capital