DRD Gold broken above the falling flag - Bullish
Falling Flag has completed on DRD Gold. It started on 9 May 2023, where the price came trickling down in a falling rectangle formation.
The price now has broken above, which signals high buying and demand liquidity.
This will push the price up.
Other indicators confirm:
7>21>200MA
RSI>50
Target 1 will be to R25.24 at the top of the pattern.
ABOUT THE COMPANY
DRDGold Limited, also known as Durban Roodepoort Deep Limited, is a mid-tier, unhedged gold producer and a world leader in surface gold tailings retreatment.
The company was established in 1895 in South Africa, making it one of the oldest continuously operating mining companies in South Africa.
The company primarily operates within the Witwatersrand Basin, located in the province of Gauteng, South Africa.
This area is known for having some of the most substantial gold deposits in the world.
The primary business of DRDGold is the reclamation and processing of residual gold from old mine dumps.
They specialize in the recovery of gold from surface tailings.
Their largest operation, Ergo Mining Proprietary Limited (Ergo), has a vast footprint on the western and eastern sides of Johannesburg, a region marked by many years of gold mining.
The price now has broken above, which signals high buying and demand liquidity.
This will push the price up.
Other indicators confirm:
7>21>200MA
RSI>50
Target 1 will be to R25.24 at the top of the pattern.
ABOUT THE COMPANY
DRDGold Limited, also known as Durban Roodepoort Deep Limited, is a mid-tier, unhedged gold producer and a world leader in surface gold tailings retreatment.
The company was established in 1895 in South Africa, making it one of the oldest continuously operating mining companies in South Africa.
The company primarily operates within the Witwatersrand Basin, located in the province of Gauteng, South Africa.
This area is known for having some of the most substantial gold deposits in the world.
The primary business of DRDGold is the reclamation and processing of residual gold from old mine dumps.
They specialize in the recovery of gold from surface tailings.
Their largest operation, Ergo Mining Proprietary Limited (Ergo), has a vast footprint on the western and eastern sides of Johannesburg, a region marked by many years of gold mining.
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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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