Harmony gold seems to have found some support around 6100c. There’s a possible head and shoulders pattern as well. And the share currently trading below the 200d EMA. However, because the 30w EMA is above 60w EMA I will ignore the head and shoulders signal. Once we take out the 7412cc resistance.Even better above the recent 8060c high With the possibility of...
JSE:HAR is in a downward channel and in the last few days has bounced off of the top of the channel again forming a lower high. If it fails to break through the top of the channel, we could see a continuation downwards towards the bottom of the channel to around the 5000 support level.
Gold recently broke from a multiweek range and gold shares followed. Watch Harmony after it broke from the range and is today testing that breakout. A lot depends on USDZAR weakness and the $ price of gold. Possible targets on the chart if this range break momentum is maintained. Looking bullish at this stage.
my last update on harmony for the year.
price is finally trading in my ideal buy area. waiting for confirmation. correction is almost over. Trade with care :)
Harmony price has been moving in a descending channel and is currently at the bottom end of it.
Technically a bounce in price is possible if the pattern persists.
The Gold price has been trading sideways for the last week or so and price should remain > 1845 to support a potential bounce for gold producers,
Monday's price for Harmony will determine if a trade is...
