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Thank you for your interest in our research. Year-to-date, we have published over 1100 research notes. These research insights help clients: (1) manage risks and (2) uncover opportunities, with the ultimate goal of helping to allocate capital to opportunities that offer the best reward-to-risk for a client's time frame. 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? +35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities To open a trading account and/or move from your existing service provider, email tradingdesk@unum.co.za. Alternatively, Sign Up Here: https://tradedesk.co/tenant/Unum/signup Latest Research: Free ETF Idea: Target Reached at $77.00 https://www.unum.capital/post/mlpx2407 Free JSE Top 40 Index https://www.unum.capital/post/j2002407 Free Spot Gold https://www.unum.capital/post/xau2307 Free S&P 500 Index https://www.unum.capital/post/spt2307 Free Capitec Bank https://www.unum.capital/post/cpi2307 Free South African 10-Year Bond Yield https://www.unum.capital/post/za10y2307 Free Thungela Resources https://www.unum.capital/post/tga2307 Free US 10 Year Bond Yield https://www.unum.capital/post/us10bondyield2207 Free Sibanye Stillwater https://www.unum.capital/post/ssw2207 Free S&P 500 Breadth https://www.unum.capital/post/spybreadth2207 Free Brent Crude Oil https://www.unum.capital/post/brentcrudeoil2207 Free Global Idea: Invesco International Buyback Achievers https://www.unum.capital/post/ipkw2207 Free Global Idea: AXA CS https://www.unum.capital/post/csaxa2207 Free JSE Sector Rotation https://www.unum.capital/post/rotation2207 Free JSE Banks (Relative) https://www.unum.capital/post/jsebanks2207 Free JSE Sector Momentum Dashboard https://www.unum.capital/post/modash2207 Free Global Idea: Global X Cloud Computing ETF https://www.unum.capital/post/clou2107 Free Northam Platinum https://www.unum.capital/post/nph2107 Free Trading Note: Gold Fields https://www.unum.capital/post/tradingnotes Free MTN Group https://www.unum.capital/post/mtn2107 Free JSE Top 40 Index https://www.unum.capital/post/j2002107 Free Internal Rotation https://www.unum.capital/post/internalrotation2107 Free Breadth Report https://www.unum.capital/post/breadthreport2107 Free Momentum Report https://www.unum.capital/post/momentumreport2107 Free Current Themes https://www.unum.capital/post/themes2107 Free African Rainbow Minerals https://www.unum.capital/post/ari2007 PREMIUM CONTENT: Inverse Head & Shoulder Targeting ~R105 https://www.unum.capital/post/preslmmium2007 PREMIUM CONTENT: Where is the Money Flowing? https://www.unum.capital/post/witmf2007 Free Global Idea: Cintas Corp https://www.unum.capital/post/ctas2007 Free JSE Top 40 Index https://www.unum.capital/post/j2002007 Free Internal Rotation: JSE Banks https://www.unum.capital/post/rotationbanks2007 Free Internal Rotation: JSE Gold Miners https://www.unum.capital/post/rotationgmine2007 Free JSE Sector Rotation https://www.unum.capital/post/rotation2007 Free Discovery Holdings https://www.unum.capital/post/dsy2007 Free Sasol https://www.unum.capital/post/sol2007 Free Impala Platinum https://www.unum.capital/post/imp2007 Free JSE Momentum Dashboard https://www.unum.capital/post/modash2007 Free Spot Gold https://www.unum.capital/post/xau2007 Free Take Profit on BHP Group https://www.unum.capital/post/bhg2007 Free AngloGold Ashanti Plc https://www.unum.capital/post/ang1707 Free Mondi Plc: Further Comment https://www.unum.capital/post/2mnp1707 PREMIUM CONTENT: Trade Setup: Global Healthcare Sector https://www.unum.capital/post/prenovnmium1707 Free Rand Hedge: Internal Rotation https://www.unum.capital/post/randhedge1707 Free Mondi Plc https://www.unum.capital/post/mnp1707 Free Global Idea: Philip Morris International https://www.unum.capital/post/pm1607 Free Bid Corp https://www.unum.capital/post/bid1607 Free Prosus https://www.unum.capital/post/prx1607 PREMIUM CONTENT: Bear Flag Targets Sub-3500c https://www.unum.capital/post/premwhlium1607 Free JSE Top 40 Index https://www.unum.capital/post/j2001607 Free Richemont https://www.unum.capital/post/cfr1607 Free Global Idea: iShares U.S. Broker Dealers ETF https://www.unum.capital/post/iai1507 Free Astral Foods https://www.unum.capital/post/arl1507 Free Global Financials https://www.unum.capital/post/ixg1507 Free AngloGold Ashanti https://www.unum.capital/post/ang1507 Free Anglo American Plc https://www.unum.capital/post/agl1507 PREMIUM CONTENT: Where is the Money Flowing? https://www.unum.capital/post/witmf1507 Free JSE Sector Rotation https://www.unum.capital/post/rotation1507 Free JSE Sector Momentum Dashboard https://www.unum.capital/post/modash1507 Free Quilter Plc https://www.unum.capital/post/qlt1407 Free Gold Fields https://www.unum.capital/post/gfi1407 Free Spar Group https://www.unum.capital/post/spp1407 Free USD/ZAR https://www.unum.capital/post/usdzar1407 Free 🟩🛢️Making Money For You. Now +17% https://www.unum.capital/post/brentoil1307 Free Thungela Resources https://www.unum.capital/post/tga1407 Free SA 10-Year Bond Yield https://www.unum.capital/post/za10y1407 Free 🟩+23% In 5 Weeks. Move Your Trading Account To Unum Today https://www.unum.capital/post/kst1307 Free ❌ Recent Ideas That Did Not Trigger https://www.unum.capital/post/notrigger1307 Free 🟩 Take Profit: Mining Share https://www.unum.capital/post/2bhg1307 Free Capitec Bank https://www.unum.capital/post/cpi1307 Free Global Idea: SPDR Capital Markets ETF https://www.unum.capital/post/kce1307 Free Sasol https://www.unum.capital/post/sol1307 Free PREMIUM CONTENT: ⚠️ Caution https://www.unum.capital/post/prekiomium1307 Free Prudential Financial https://www.unum.capital/post/pru1307 Free BHP Group https://www.unum.capital/post/bhg1307 Free FirstRand Ltd https://www.unum.capital/post/fsr1307 Free Spot Gold https://www.unum.capital/post/xau1307 Free Foschini/TFG https://www.unum.capital/post/tfg1307 Free Vodacom Group https://www.unum.capital/post/vod1307 Free Gold Miners vs JSE Top 40 Index https://www.unum.capital/post/goldvs1307 Free Platinum Miners vs JSE Top 40 Index https://www.unum.capital/post/platvs1307 Free 🟥🟩🟧 JSE Momentum Dashboard https://www.unum.capital/post/modash1307 Free Sector Rotation https://www.unum.capital/post/rotation1307 Free AngloGold Ashanti https://www.unum.capital/post/ang1307 Free JSE Top 40 Index https://www.unum.capital/post/j2001007 Free Trading Note: Naspers https://www.unum.capital/post/npn1007 Free SA Risk & Sentiment Index https://www.unum.capital/post/sarisk1007 Free PREMIUM CONTENT: Trade Setup (Buy Idea) via Watchlist https://www.unum.capital/post/pimpremium1007 Free State Street SPDR S&P Software & Services ETF https://www.unum.capital/post/xsw0907 Free Take Profit/Target Reached on ARK Genomic Revolution ETF https://www.unum.capital/post/arkg0907 Free Northam Platinum https://www.unum.capital/post/nph0907 Free Exxaro Resources https://www.unum.capital/post/exx0907 Free Standard Bank https://www.unum.capital/post/sbk0907 Free 🟥🟩🟧 Momentum Dashboard https://www.unum.capital/post/modash0907 Free JSE Banks Relative To JSE Top 40 Index https://www.unum.capital/post/banks0907 Free Sector Rotation https://www.unum.capital/post/rotation0907 Free Brent Crude Oil https://www.unum.capital/post/brentcrude0807 Free Prosus https://www.unum.capital/post/prx0807 Free Tencent https://www.unum.capital/post/tencent0807 Free BHP Group https://www.unum.capital/post/bhg0807 Free Discovery Holdings https://www.unum.capital/post/dsy0807 Free Ecolab https://www.unum.capital/post/ecl0707 Free Commodities: Coffee Futures https://www.unum.capital/post/coffee0707 Free Naspers https://www.unum.capital/post/npn0707 Free Nepi Rockcastle https://www.unum.capital/post/nrp0707 Free MTN Group https://www.unum.capital/post/mtn0707 Free Prosus https://www.unum.capital/post/prx0707 Free USD/ZAR https://www.unum.capital/post/usdzar0707 Free JSE Sector Rotation https://www.unum.capital/post/rotation0707 Free 🟥🟩🟧 JSE Sector Momentum Dashboard https://www.unum.capital/post/modash0707 Free Pan African Resources https://www.unum.capital/post/pan0607 Free Diversified Miners: Price Action Models https://www.unum.capital/post/divmin0607 Free Spot Gold https://www.unum.capital/post/xau0607 Free 🖥️ Technical Screen https://www.unum.capital/post/aggbuy0607 Free Sabvest Capital https://www.unum.capital/post/sbp0607 Free Absa Group https://www.unum.capital/post/abg0607 Free Mondi Plc https://www.unum.capital/post/mnp0607 Free SA (JSE) Risk & Sentiment Index https://www.unum.capital/post/sasent0607 Free JSE Sector Leaderboard https://www.unum.capital/post/leaderboard0607 Free ⚠️Sector Risks: Cooling Off https://www.unum.capital/post/cooling0607 Free ⚠️Sector Risks: Value Trap https://www.unum.capital/post/valuetrap0607 Free ⚠️Sector Risks: Bull Trap / False Breakout https://www.unum.capital/post/trap0607 Free ⚠️Sector Risks: Exhaustion & Mean Reversion https://www.unum.capital/post/exhaust0607 Free Satrix Resources https://www.unum.capital/post/stxres0607 Free British American Tobacco https://www.unum.capital/post/bti0607 Free Prosus https://www.unum.capital/post/prx0307 Free Capitec Bank https://www.unum.capital/post/cpi0307 Free Gold Fields https://www.unum.capital/post/gfi0307 Free 🟥🟩🟧 JSE Sector Momentum Dashboard https://www.unum.capital/post/modash0307 Free Quilter Plc https://www.unum.capital/post/qlt0307 Free Sibanye Stillwater https://www.unum.capital/post/ssw0207 Free Further Update: Oceana Group https://www.unum.capital/post/oce0207 Free Netcare https://www.unum.capital/post/ntc0207 Free Discovery Ltd https://www.unum.capital/post/dsy0207 Free Redefine Properties https://www.unum.capital/post/rdf0207 Free Nasdaq Composite https://www.unum.capital/post/nasdaq0207 Free JSE Top 40 Index https://www.unum.capital/post/j2000207 Free Standard Bank https://www.unum.capital/post/sbk0207 Free Absa Group https://www.unum.capital/post/abg0207 Free Anglo American Plc https://www.unum.capital/post/agl0207 Free Valterra Platinum https://www.unum.capital/post/val0107 Free Boxer Retail https://www.unum.capital/post/box0107 Free Richemont https://www.unum.capital/post/cfr0107 Free Consumer Discretionary https://www.unum.capital/post/consdisc0107 Free Truworths https://www.unum.capital/post/tru0107 Free JSE Sector Rotation https://www.unum.capital/post/rotation0107 Free 🟥🟩🟧 JSE Sector Momentum Dashboard https://www.unum.capital/post/modash0107 Free Price Action Model: Sidestepping a 48% Decline https://www.unum.capital/post/tga0107 Archive: Year-To-Date June 2026 https://www.unum.capital/post/rjune2026 May 2026 https://www.unum.capital/post/rmay2026 April 2026 https://www.unum.capital/post/rapril2026 March 2026 https://www.unum.capital/post/rmar2026 February 2026 https://www.unum.capital/post/rfeb2026 January 2026 https://www.unum.capital/post/rjan2026 Share the following link to our website with your social circle: https://unum.capital/blog/ Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Target reached at $77.00. Previous Post (August 2025): Global Idea: MLP & Energy Infrastructure ETF Last Close: $62.27 Entry Range: 61.50 - 62.90 Target: $77.00 Stop-loss: $54.20 Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes The index closed yesterday's session lower by 1.26%, near 1-week, 1-month, 3-month and 6-month lows. Yesterday's lows also represented the 4th test of the ~99,500 level, which is becoming more likely to be breached, unless we see an immediate and definitive change in character (i.e. better candle structure) which would reflect buyers starting to take control. Considering the position versus the moving averages, the index remains below it's declining 8 and 21-day exponential moving averages (EMA) while both of these EMAs are below the downward trending 75-day EMA. All of these moving averages are below the 200-day SMA which is starting flatten out after being in an upward trend for an extended period. Immediate rallies from current levels are likely to be met with selling pressure, specifically around the 75-day EMA (and 8-week EMA). Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Publication Date/Time: Thursday, 23 July at 21h24 (South African Time) What's The Story With Gold? Following a multi-week base, Gold attempted to rally (on Wednesday) but failed to follow through on the upside, having been capped by (1) the declining 21-day EMA but also by (2) the 8-day EMA continuing to trade below the 21-day EMA. Above and beyond gold on an absolute basis, it's higher yields globally that appears to be capping any meaningful advance. See our notes on yields here > https://www.unum.capital/post/us10bondyield2207 Previous Post: Spot Gold: Where To Buy / A History of Flushes Published on Saturday 18 July, for Monday, 20 July. Bottom Line: Gold recent history of price flushes created opportunities to buy. With lower highs and weekly close at the lows, a flush below support may create an opportunity to accumulate on significant weakness. The provisional range is show on the chart below. This level is also in line with the lower boundary of the channel support. Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes This is note is being published on Thursday 23 July at 19h48 (South African Time / US Trading Session). Previous Post (Wednesday 22 July): ⚠️Caution: S&P 500 Breadth Reflects Early Cracks Underneath The Surface Lester Davids Senior Investment Analyst: Unum Capital

+30 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Capitec Bank (CPI) Tighten your stop-loss to protect capital. if you took it from the trigger then the gain is slightly lower however if you followed the price path then the gain is around 4,8% (ungeared). I am expecting more downside however, in the ultra short term, rebounds are always possible. Anyone capitalize on this one or any of our recent ideas? Which ones? which ETFs? which stocks? Get in touch today at lester@unum.co.za Previous Post (13 July) 💡Capitec Bank: Have You Looked At It From This Angle? Placing It On Your Radar If you're a trader with access to the full market depth (bids/offers), then I'd suggest monitoring it closely for a evidence of above-average offers, which may suggest the start of some selling pressure. Analyzing the daily chart reveals a potential double top formation that could open an opportunity for short-sellers and subsequently, lower levels. The structure is similar to the previous 'double top' technical formation which was triggered by an increase in volume as the price breached the incline support. Currently, R4669 acts as ultra short term support, meaning that for the idea to trigger, we need to see a break of this support (on elevated volume). An alternative scenario is the share putting in a 1 or 2 day rally which fails to hold before moving back below the trend line. READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizontal lines on the chart represent a next-best-probability buy re-entry range and a next-best-probability sell re-entry range over the short term. The ranges assume no existing position is being held by a trader, while the probabilities are based on several factors, which may include: Short-term ratings and medium-term regimes Momentum indicators Horizontal or diagonal support and resistance Candle structure Moving averages and standard deviation Please note that these are short-term levels and may contrast with medium- and long-term outlooks, which are based on the weekly and monthly charts and are generally more applicable to long-term investors. These levels are subject to change based on market sentiment, subsequent price action, and company/sector-specific or macroeconomic news flow. As always, while the levels are outlined to guide your capital deployment, traders should be prepared to adjust in real-time based on the aforementioned factors. THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. Whether a trader can look to buy a pullback into a key moving average (continuation trade) Whether a share needs to break a range for a new trend to be determined (bullish or bearish) Whether a traders needs to monitor for a change of character that could lead to a bullish or bearish reversal Whether a share could start a consolidation phase or before continuing it’s bullish or bearish trend Whether the upward momentum is slowing (if it's in a bullish phase) Whether buyers can look to 'phase in' to a position (if it's in a bearish phase) Whether a share lacks directional bias. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Update: South African 10-Year Bond Yield Previous Post (13 July, Post Market) South African 10-Year Bond: Potential For Higher Yields Published Monday 13 July (post-market), for Tuesday 14 July. Potential for higher yields on trend line break. READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizontal lines on the chart represent a next-best-probability buy re-entry range and a next-best-probability sell re-entry range over the short term. The ranges assume no existing position is being held by a trader, while the probabilities are based on several factors, which may include: Short-term ratings and medium-term regimes Momentum indicators Horizontal or diagonal support and resistance Candle structure Moving averages and standard deviation Please note that these are short-term levels and may contrast with medium- and long-term outlooks, which are based on the weekly and monthly charts and are generally more applicable to long-term investors. These levels are subject to change based on market sentiment, subsequent price action, and company/sector-specific or macroeconomic news flow. As always, while the levels are outlined to guide your capital deployment, traders should be prepared to adjust in real-time based on the aforementioned factors. THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. Whether a trader can look to buy a pullback into a key moving average (continuation trade) Whether a share needs to break a range for a new trend to be determined (bullish or bearish) Whether a traders needs to monitor for a change of character that could lead to a bullish or bearish reversal Whether a share could start a consolidation phase or before continuing it’s bullish or bearish trend Whether the upward momentum is slowing (if it's in a bullish phase) Whether buyers can look to 'phase in' to a position (if it's in a bearish phase) Whether a share lacks directional bias. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Thungela Resources (TGA): Previously we published (see further below): (1) the price action model stated that 'after a downward trend, buyers are showing interest'. (2) we also highlighted the price having the potential to track the move higher in oil. (3) Since then, the share has rallied from ~R96 to ~R111. Anyone capitalize on the opportunity? I'd love to hear from you. Get in touch with me at lester@unum.co.za Previous Post (13 July)💡Trading Thungela Resources Published Monday 13 July (post-market), for Tuesday 14 July. Thungela Resources (candles) overlayed with Brent Crude Oil (blue line) Thungela Resources - starting to find some support following it's massive drop. Can it continue consolidating from current levels? Yes. That being said, it has also the ability to work it's way back to (or at least close to) the 75-day EMA and 21-week EMA. READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizontal lines on the chart represent a next-best-probability buy re-entry range and a next-best-probability sell re-entry range over the short term. The ranges assume no existing position is being held by a trader, while the probabilities are based on several factors, which may include: Short-term ratings and medium-term regimes Momentum indicators Horizontal or diagonal support and resistance Candle structure Moving averages and standard deviation Please note that these are short-term levels and may contrast with medium- and long-term outlooks, which are based on the weekly and monthly charts and are generally more applicable to long-term investors. These levels are subject to change based on market sentiment, subsequent price action, and company/sector-specific or macroeconomic news flow. As always, while the levels are outlined to guide your capital deployment, traders should be prepared to adjust in real-time based on the aforementioned factors. THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. Whether a trader can look to buy a pullback into a key moving average (continuation trade) Whether a share needs to break a range for a new trend to be determined (bullish or bearish) Whether a traders needs to monitor for a change of character that could lead to a bullish or bearish reversal Whether a share could start a consolidation phase or before continuing it’s bullish or bearish trend Whether the upward momentum is slowing (if it's in a bullish phase) Whether buyers can look to 'phase in' to a position (if it's in a bearish phase) Whether a share lacks directional bias. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Note Added: Wednesday, 22 July at 21h05 (South African Time) Previous Post (Wednesday, 22 July): ⚠️Caution: S&P 500 Breadth Reflects Early Cracks Underneath The Surface Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Note as of Wednesday 22 July at 16h11. Previous Post (02 July): 🟩Take (Partial) Profit: Short Term Traders (Running 8%) ✔ Medium Term Traders: Hold For Potentially Higher Levels (Further Recovery) Sibanye Stillwater (SSW) - into the buy re-entry range and rebounding 8% (was higher earlier in the day). A note for medium term traders: hold but raise your stop-loss to protect capital. Previous Post (Sunday, 21 June): How To Trade Sibanye Stillwater + Current Risks & Probabilities Earlier this month (Sunday 07 June) we highlighted the share as a buying opportunity, under the condition that the price traded into the provisional buy range. The share traded into the buy range and rebound strongly (+19%), helping traders lock in profit and generate cash flow. We have since seen the share roll back over, remaining weak but possibly offering an opportunity to buy on lower levels. The price action model highlights a 'weak' regime while the short term reading states the share is becoming attractive for a small buy/long position. The medium term reading notes aggressive selling while warning traders to wait for the lower time frames to stabilize. On the highest time frame, there is a 'probability of a small rebound'. Best probability provisional buy range: 3200c to 3420c Stop-loss: 3010c Target: Open All levels are subject to change as the news flow and price action develops. Previous Post (Friday, 12 June): 🟩Making Money on Sibanye Stillwater ✔ Take Profit On This Rebound +7.4% The share traded below 3700c (low of 3694c), giving traders an opportunity to accumulate. The share is currently higher by 7.4% from 3700c. For short term traders, the rebound creates an opportunity to take profit. Previous Post (Sunday 07 June) 💡🟩JSE Platinum Share: Bearish Trend, But Prints Below 3700c Creates Oversold Buying (Rebound) Opportunity (1) regime = high bearish momentum / approaching oversold (2) 200d breakdown (3) very poor candle structure (4) trading on neckline support (likely to break lower) (5) unfilled gap at ~4000c and ~3819c (6) aggressive selling candle take it down to the 200-week near 3700c-3400c READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizontal lines on the chart represent a next-best-probability buy re-entry range and a next-best-probability sell re-entry range over the short term. The ranges assume no existing position is being held by a trader, while the probabilities are based on several factors, which may include: Short-term ratings and medium-term regimes Momentum indicators Horizontal or diagonal support and resistance Candle structure Moving averages and standard deviation Please note that these are short-term levels and may contrast with medium- and long-term outlooks, which are based on the weekly and monthly charts and are generally more applicable to long-term investors. These levels are subject to change based on market sentiment, subsequent price action, and company/sector-specific or macroeconomic news flow. As always, while the levels are outlined to guide your capital deployment, traders should be prepared to adjust in real-time based on the aforementioned factors. THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. Whether a trader can look to buy a pullback into a key moving average (continuation trade) Whether a share needs to break a range for a new trend to be determined (bullish or bearish) Whether a traders needs to monitor for a change of character that could lead to a bullish or bearish reversal Whether a share could start a consolidation phase or before continuing it’s bullish or bearish trend Whether the upward momentum is slowing (if it's in a bullish phase) Whether buyers can look to 'phase in' to a position (if it's in a bearish phase) Whether a share lacks directional bias. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Lester Davids Senior Investment Analyst: Unum Capital

+35 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/rjuly2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Brent Crude Oil Current Date/Time: Wednesday, 22 July at 12h07 (South African Time) Did you also notice it's rallying in line with the price action model? Anyone reading this capitalize on this opportunity? Previous Post (Sunday 28 June) 🟩🛢️At/Approaching Buy/Add Range. Look For Lower Levels Before Tactical Rebound + See Price Action Model Published on Sunday 28 June, for Monday 29 June. Please note: Due to unforeseen circumstances, I will not have access to my laptop on Monday 29 June. READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizontal lines on the chart represent a next-best-probability buy re-entry range and a next-best-probability sell re-entry range over the short term. The ranges assume no existing position is being held by a trader, while the probabilities are based on several factors, which may include: Short-term ratings and medium-term regimes Momentum indicators Horizontal or diagonal support and resistance Candle structure Moving averages and standard deviation Please note that these are short-term levels and may contrast with medium- and long-term outlooks, which are based on the weekly and monthly charts and are generally more applicable to long-term investors. These levels are subject to change based on market sentiment, subsequent price action, and company/sector-specific or macroeconomic news flow. As always, while the levels are outlined to guide your capital deployment, traders should be prepared to adjust in real-time based on the aforementioned factors. THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. Whether a trader can look to buy a pullback into a key moving average (continuation trade) Whether a share needs to break a range for a new trend to be determined (bullish or bearish) Whether a traders needs to monitor for a change of character that could lead to a bullish or bearish reversal Whether a share could start a consolidation phase or before continuing it’s bullish or bearish trend Whether the upward momentum is slowing (if it's in a bullish phase) Whether buyers can look to 'phase in' to a position (if it's in a bearish phase) Whether a share lacks directional bias. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital