$JSEDRD - DRD Gold: I Count Five Waves Up, Top Imminent
The last coverage of DRD was on the 17th of January 2023 and I forecasted a pullback for wave (iv) before wave (v) takes off to complete the impulse move from 864.
The share has not disappointed, driven by the recent surge in the gold price.
Wave (v) in commodities can be extended but there is no way of telling in advance if it will be.
The share has strong momentum with shallow intraday pullbacks.
There are no signs of a reversal yet but I am not an advocate of trying to buy within wave (v) at a mature stage.
Commodities are highly cyclical and can reverse violently so if you are not already in a profitable trade, rather sit on your hands and wait for short opportunities after the completion of wave (v).
The share has not disappointed, driven by the recent surge in the gold price.
Wave (v) in commodities can be extended but there is no way of telling in advance if it will be.
The share has strong momentum with shallow intraday pullbacks.
There are no signs of a reversal yet but I am not an advocate of trying to buy within wave (v) at a mature stage.
Commodities are highly cyclical and can reverse violently so if you are not already in a profitable trade, rather sit on your hands and wait for short opportunities after the completion of wave (v).
