DRD Gold broke through a strong support line at 14.50 - Since February DRD Gold has been consolidating between R13.52-R15.71.
If it falls below R13.47 it could easily test the next support line at R11.89.
What I am looking for is a bounce off of R13.50 and a strong upwards trend that breaks through R15.60.
* I have a position in DRD GOLD with an average purchase price of R13.40.
I'll be looking to add if there is a bounce off of R13.50, and will continue to accumulate if this downtrend weakness persists.
The spot price of Gold is pushing higher and is testing $1800, a clear break above $1800 will open the door for Gold to run higher and test $1840 .
If Gold moves in that direction then DRD Gold should pusher higher. and benefit from a higher Gold price.
If it falls below R13.47 it could easily test the next support line at R11.89.
What I am looking for is a bounce off of R13.50 and a strong upwards trend that breaks through R15.60.
* I have a position in DRD GOLD with an average purchase price of R13.40.
I'll be looking to add if there is a bounce off of R13.50, and will continue to accumulate if this downtrend weakness persists.
The spot price of Gold is pushing higher and is testing $1800, a clear break above $1800 will open the door for Gold to run higher and test $1840 .
If Gold moves in that direction then DRD Gold should pusher higher. and benefit from a higher Gold price.