Trade Spot Gold (XAU/USD) with Unum Capital.
To get started, email lester@unum.co.za
What is the current overall trend for Spot Gold? The 7-day trend is strong, and the 14-day trend is bullish. This suggests an upward trend.
What should traders look for in the short term? The expectation is for a steady upward movement with possible consolidation around these levels.
What about the medium term? The commodity is in a bullish regime. If there's a pullback, use the prior session's close or the 8-EMA as an accumulation zone.
And for the long term? Buyers are in control, but watch for weakness on lower time frames. Look for a pullback to the 8 or 21-EMA (buy range) before the next move higher.
In essence, the model indicates a bullish trend with potential for short-term consolidation.
Moving Average Trends
Daily Price Chart
Lester Davids
Analyst: Unum Capital
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