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DRD GOLD LTD
Long

JSE:DRD DRD Markup

Par SteynTrade
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Following a Wyckoff analysis of DRD phase E markup is now in full swing. In 2018 institutions started slowly to accumulate the stock at low prices. Early this year there was some heightened interest seen with increases in volume with institutions stepping up the pace of accumulation. With a spring the markup started in phase D and after a backup, to the TR we are now seeing the markup taking place in phase E. We are looking for resistance areas around R7 for the first target and then possibly R9 and then we will see if there is enough gas to reach previous highs.
Note
The point and figure count target is between 801 and 955.
snapshot
GoldjsejsedrdSupply and DemandSupport and ResistanceVolume IndicatorVolumewyckoff
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