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Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (23 January): European Financials: Attractive Valuations + Improving Technical Structure In September of last year (2024), I discussed European equities being inexpensive near it's all-time highs. This week, the Euro Stoxx 600 printed new all-time highs. European Financials (EUFN ETF) form part of this group and are trading at the same level (in USD term) as they did in 2010 and 2011. Look at that multi-year base. In addition, the sector trades at valuations that would require very little to go right to see a re-rating. In other words, the bar is low. Previous Post: European Equities: Inexpensive Near All-Time Highs Thursday, 26 September 2024 at 21h12 ETF: iShares Europe Ticker: IEV Trading at 52-week highs, but remains relatively inexpensive Current Price = $58.78 Medium term target = $68 The setup is invalidated below 54.00

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (Friday 04 July): MTN Group: Approach + Trading Considerations Overall Trading Considerations for MTN Group: Consistent bullish momentum: The short-term (7-day) and slightly longer short-term (14-day) trends are strongly bullish, indicating consistent buying pressure. However, this is accompanied by strong cautions against chasing the price and advice to look for pullbacks or potential short-selling opportunities on overshoots in the medium to long term. Short-term caution: Despite the aggressive buying pressure, the model advises looking for pullbacks to the 8 or 21-EMA as buying opportunities, rather than chasing the price, due to potential weakness on lower time frames. Medium-term strong move with caution: The medium term indicates a very strong move with buyers in control, but with a strong warning not to chase the price. There's a noted potential for failure to hold highs, which could make the 8-EMA a short/sell target. Long-term aggressive buying underway with short-sell potential: The long term also shows aggressive buying, but explicitly warns against chasing. It suggests looking for overshoots or failure to hold prior session range highs to initiate short-sell positions back to the 8-EMA. In summary, for MTN Group , the current view is bullish across short to medium terms, with aggressive buying in the long term. However, traders across all timeframes should be highly cautious, focusing on buying pullbacks and being prepared for potential short-selling opportunities if highs are not sustained or overshoots occur. The model points to a general upward trend for the price of MTN Group , but with significant caveats regarding sustainability and entry points. Here's a breakdown of the current price action: The 7-day trend is indicated as "Strong," while the 14-day trend is "Very Bullish." Comparison: Both the short-term (7-day) and slightly longer short-term (14-day) trends indicate upward momentum ("Strong" and "Very Bullish" respectively). This suggests a consistent buying pressure across these timeframes. The "Very Bullish" 14-day trend reinforces the "Strong" 7-day trend, indicating that the recent strength is part of a broader upward movement. Potential Trading Approach: Short Term (Approximately Next 1 to 10 Trading Days): The model notes, "Buyers In Control But Weakness On Lower Time Frame-Look For Pullback To 8 or 21-EMA (Buy Range) Before Next Move Higher." Approach: While buyers are in control, there's a note of potential short-term weakness. The recommended approach is to look for a pullback to the 8 or 21-period Exponential Moving Average (EMA) to enter a buying range before the next move higher. This suggests a "buy the dip" strategy within an overall bullish short-term trend. Medium Term (Approximately Next 2 to 4 Weeks): The model indicates "Very Strong Move Buyers In Control But Don't Chase-May Fail At Attempt To Hold The Highs-If It Doesn't Hold Then The 8-EMA May Be A Short/Sell Target." Approach: The medium term suggests a very strong upward move with buyers in control. However, the model strongly advises against chasing the price and highlights a potential failure to hold current highs. If these highs are not sustained, the 8-EMA could become a target for short-selling. This implies a bullish outlook but with significant risk management and potential for reversals. Long Term (Approximately Next 5 to 8 Weeks): The model states, "Aggressive Buying But Do Not Chase-Look For Overshoot or Failure To Hold Prior Session Range Highs To Short-Sell Back To The 8-EMA." Approach: The long-term perspective points to aggressive buying. However, it comes with a critical warning not to chase the price. Instead, traders should look for an overshoot of current levels or a failure to hold prior session range highs as potential opportunities to initiate short-sell positions, targeting a move back to the 8-EMA. This indicates a bullish bias but with clear conditions for potential counter-trend trades. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Snapshot as of 11h35 Previous Post (Tuesday 08 July): Technical Screen: Shares Trading 20% or More Above 75-day EMA (Bullish, But Becoming Overextended To The Upside = Risk of Short Term Retracement) Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (Thursday 26 June): Trading Northam Platinum: Technical Leader Entering An Overbought Range Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za *This is a premium post. Thank you for your interest in our research. Our aim is to convey insights that help clients: (1) Manage Risks and (2) Uncover Opportunities. Year-to-date we have published over 1000 research notes that helps clients do just that. If you've been a consumer of our research but have not traded via the Unum Capital trading desk, why not consider making us your trading services provider? To open a trading account and/or move from your existing service provider, email   tradingdesk@unum.co.za   In exchange for the provisional levels, we would love to have a few minutes of your time to explain our services. Specifically, if you are: New to financial markets and looking to start your trading journey. An experienced trader, but looking to elevate your trading. Interested in an ACTIVE TRADING approach. Interested in a high quality, award-winning research. Interested in insights that informs and identifies both risks and opportunities. Should you you fit into any of the above categories, we would love a few minutes of your time to be able to further explain why you should consider Unum Capital your trading partner. To access, e-mail your name and contact details to   lester@unum.co.za    To open a trading account, e-mail   lester@unum.co.za    Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (01 July): Copper Futures: Bull Flag Sees Upside Follow-Through; Trades At Multi-Month High of $5.18. The bull flag discussed on 26 May has see strong upside follow-through. Traded above 5.00 earlier in this session. Previous Post (21 May): Copper Futures: Bull Flag Emerging? A break above 4.73 targets 5.15. Previous Post (20 March): Copper: Repeating It's Mid 2000s Cycle? We have a long history discussing Copper, since the lows during Covid at $2.31. This is an update. What we saw then... (the potential for a post 2001 to 2003 cycle run-up). How it's developed thus far... Previous Posts Previous Post: Copper - Your Questions Answered (14 January 2025) Analyst's Price Action Model Here's a summary of the price action model for Copper Futures: Q: What is the overall trend of Copper Futures? A: The overall trend is Bullish. Q: What is the current 7-day trend? A: The current 7-day trend is Overbought. Q: What is the current 14-day trend? A: The current 14-day trend is Very Bullish. Q: Is there any opportunity for a short-term buy/long position? A: Yes, there is a potential opportunity for a short-term buy/long position. The model suggests looking for a pullback to the 8 or 21 EMA (Exponential Moving Average) as a potential entry point for the next move higher. Q: What is the outlook for the medium term (2 to 4 weeks)? A: For the medium term, the advice is to expect a steady upward trend. It's recommended to apply daily/weekly moving averages where applicable. Q: What is the outlook for the long term (5 to 8 weeks)? A: In the long term, the advice is to anticipate a continuation of the bullish regime. If Copper Futures pull back, the model suggests using the prior session close or the 8-EMA as an accumulation zone. It's recommended to apply weekly moving averages and time frames (not daily). In summary: The price action model for Copper Futures indicates a bullish overall trend with a short-term overbought condition. Traders are advised to look for potential pullbacks to enter long positions. The medium-term outlook is for a steady upward trend, while the long-term expectation is for a continuation of the bullish regime. Copper Futures Daily Chart Previous Post: This Is How I'm Looking At Copper + Updated Target Thursday, 03 October 2024 Time Published: 19h26 Great comeback on the back of the Chinese stimulus announcement, with the continued development of a +3 year base. Measured move target (medium/long term) = $6.60 Previous Post: Tuesday, 24 September at 11H16 The People's Bank of China (PBoC) introduced several measures to boost the economy amid concerns that the official growth target of around 5% might be out of reach due to recent weak data. Governor Pan Gongsheng said in a media briefing today that the central bank will cut the reserve requirement ratio (RRR) by 50bps, which will inject CNY 1 trillion into the financial system, with the possibility of another reduction of 0.25 to 0.5 ppts later this year. In addition, the PBoC will lower the seven-day reverse repo rate by 20bps to 1.5%, aiming to reduce short-term borrowing costs for banks. This move is accompanied by a 30bps reduction in borrowing costs of the medium-term lending facility. Mortgage rates will also be trimmed, with an expected average drop of 50bps, and the minimum down payment for second homes will be cut to 15% from 25%. Pan did not specify when the moves will take effect. Tuesday's action came after the US Fed started its monetary easing cycle with a large rate cut - Source: TradingEconomics Previous Post (26 August 2024) US Trading Session (Mon, 26-Aug-2024), Time: 19h00 (S/Africa) Was $3.95 vs a multi-week high of $4.23 today. Previous Post (07 August 2024) Real-Time: 14h36 Trading at it's previous breakout level. Previous Post: UPDATE: Copper has retraced from it's short and medium term overbought levels, having traded above $5.00. This follows an impressive run, one that we discussed on 16 November 2023. The automated model gave us a reading on 15 May, warning of an unappealing reward-to-risk on the upside i.e. expect a pullback. At current levels, the commodity trades in a high bearish momentum regime, approaching short term oversold levels. In addition, it is trading at or around the rising 21-week exponential moving average (EMA), a level at which bulls could re-emerge. The short term trend remains down, however active traders would want to monitor for early signs of price stabilization which could signal the start of a base and potentially a bullish reversal. Downside risk, as highlighted on 15 May: Upside Opportunity on 16 November 2023: I've been a copper bull since May 2020. This was the setup, as I highlighted and discussed at the time. Lester Davids Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Click on the image to enlarge. Readings as of the close of trade on Tuesday 08 July. These are subject to change as the price action develops. Short Term (approximately 1 to 10 days) Medium Term (approximately 2 to 4 weeks) Long Term (approximately 5 to 8 weeks) Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital