Harmony Gold is caught in a broadening wedge, rejection at resistance is sending price towards the support where we see weight of evidence favouring a bounce as there the 200 DMA is tracking the wedge support. First price must negotiate current level where there is some horizontal support.
Comment:
Harmony bounced off the horizontal support & got rejected from the wedge resistance, we are on our way to support trendline & 200DMA.
Comment:
Harmony is being rejected at the weekly declining trendline, going into earnings if these are not good price will quickly move downwards lower than 22 August, this will be an early failure possibly into October.