DRD Gold just gave the golden BUY signal to R25.00
DRD Gold has had a troubling year.
It's dropped from May 2023 from R25.35 down to R15.00.
There've been two strong tests at R15.00 which has helped form a major bullish W Pattern.
We just need the price to move up to break above the Neckline.
Once that happens, the next target will be back to the highs around R25.00.
The short term Moving Averages confirm with 7>21. And now the price needs to jump above the main 200MA. Then it will establish a Bull Market.
Gold itself is looking VERY bullish as you would know from my previous analysis with Gold.
And so Gold stocks are definitely quite safe to buy rather than sell right now.
Investors might feel safe to start accumulating from around these levels. I would prefer to wait for a break above the 200MA.
It's dropped from May 2023 from R25.35 down to R15.00.
There've been two strong tests at R15.00 which has helped form a major bullish W Pattern.
We just need the price to move up to break above the Neckline.
Once that happens, the next target will be back to the highs around R25.00.
The short term Moving Averages confirm with 7>21. And now the price needs to jump above the main 200MA. Then it will establish a Bull Market.
Gold itself is looking VERY bullish as you would know from my previous analysis with Gold.
And so Gold stocks are definitely quite safe to buy rather than sell right now.
Investors might feel safe to start accumulating from around these levels. I would prefer to wait for a break above the 200MA.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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