HAR - potential long
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 lucrative and should be managed according to individual risk appetite.
If the technical pattern materializes, a 10% bounce in price or more could be in the offing - all dependent on what happens in the Gold price.
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 lucrative and should be managed according to individual risk appetite.
If the technical pattern materializes, a 10% bounce in price or more could be in the offing - all dependent on what happens in the Gold price.
Note
Price still drifting lower and I'll rather keep an eye on this week's price action.Patience and if price reaches the 6100 - 5800 level I'll reconsider my options
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.