Diamond Formation (Broadening) has formed on ANG.
This is a rare formation that resembles a Diamond.
It's also a formation between a tug of war between the Bulls and the Bears, until there is a breakout.
Now either I'm a Gold bullion, or intution is just telling me we are in for a breakout to the upside.
And funny enough the indicators don't agree as...
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...
Gold like many other markets have been in difficult territory to trade well this year.
We cannot predict but only probability predict. And with probabilities, things can change so quickly.
I am currently long a couple of gold stocks as of last week, and it looks like the direction is right for now.
And finally, the gold price is matching the drapes.
We are...
