DRD Gold attacked by bulls

The South African mining company DRD Gold Ltd. seemed to the last analysis of February 10th on the, already so called, success course. After breaking away from the designated support level around $ 5.40 northwards, however, the courses provided massive support in the wake of the corona pandemic. A price of USD 3.06 was set in the low, which corresponded to the level from summer 2019. But the bulls came back faster than expected, but more on that in conclusion.

 

Prices shot up

Quite as quickly as the sell-out itself, the prices shot up again, and only five days later the previously underrun zone was regained at $ 5.40. After another short-term struggle around this brand, the courses shot up further in April. On April 13, a high was formed at $ 9.69, which can now be seen as a tip on the scales. If the stock manages to set this high, you can look forward to two-digit price levels again in a nutshell.In the course of this, based on the Fibonacci extension (log.) Levels of 138.20% at USD 11.95 and above that at 161.80% even prices of USD 13.71 appear possible. It is important to remain above USD 7.65. Above this level, the bulls tend to stay ahead. Unsurprisingly, the opposite would be expected if the rate fell below it.