#DRDGOLD R14.00 a massive level- watch for reversal

21 Jan

After reaching a high of R24.50 in May 2023, DRD has retraced right back to the change of polarity point and 200 week moving average (green). The level of R14.00 also happens to be the 61.8% fib retracement level joining the swing highs from May 23 and Swing lows from Sep 22. Putting this all together tells me that the 14.00 level is a high probability of leading to a reversal in price and i will be watching this closely in the week ahead for a long entry. Also note the divergence on the RSI which has not formed a lower low in tandem with price.