$ABX Bearish Shooting Star$ABX Bearish shooting star candle into earnings later today. Looking overbought on the daily chart. Expecting a near term price correction.
Targeting $10.00-11.50 range
Note: Informational analysis, not investment advice.
ABX
ABX is slowly reaching the 13.60 USD target price... From this level a three-month slip can begin. The two sides of the bar are probable between 11.67-13.60 usd. Exit from the band upwards. The level available after the outbreak will be discussed later.
ABX POTENTIAL 5 WAVE CORRECTION BEFORE THE BREAKOUTABX seems ready to complete a potential 5 wave correction. A rejection on the upper trendline can indicate the starting point for the final E wave. If this is the case i'm expecting a strong breakout to the upside.
ABX turning is expected...The exchange rate reached the end of its correction level. We would expect a rise from the double bottom of the past few days. The rise could be achieved by a double wave structure. The second wave structure target price is 13.40 usd.
XAUUSD, GOLD, ABX, GDX, PAASAttempting to put more pieces of the puzzle together, considering my ideas on the miners recently published, from what I have seen over the years, B / X waves or alike (as potentially marked on the chart with a black line) usually have a subsequent opposite move in price at the end of such a wave. Therefore, the move in gold from 2016 low would have ended with a subsequent fall crashing through the lows, perfect example being the wave Jun-Sep 2012.
The fact that the price is struggling to fall lower on numerous occasions since the 2016 advance, in addition to the most recent print on the weekly having a wick and green candle, leads me to believe that at least the previous highs are able to be breached. Then, there may be a fall lower, but that is another analysis when more price info is available.
Summing up, evidence suggests that a bottom (or soon to be) of this down move is in, and now a move higher is in progress. Whether it is impulsive or not, I do not know. Therefore, this move up could possibly tie in with the simple analysis I have most recently put forward for the miners.
ABX, GDX, PAASSame as my recent ABX, GDX chart.
PAAS appears to be playing along nicely with a sideways consolidation with classic text book decreasing volume, as well as other indicators looking encouraging, so would expect another pump higher regardless of wave count (either impulsive or corrective). HOWEVER, I have also seen breakdowns from these forming triangles, which I didn't expect, so although this provides more evidence for higher price in the future, it is still hard to tell.
ABX, GDXAppears to me that for years there was a sideways consolidation, which bottomed in 2016. Then a strong move up, therefor the following questions:
1. Is this a new bull market and we have had W1 and are now (ending?) W2 at the 76 fib retrace level?
2. If not, have we had a strong upward A, now in B, yet to come strong upward C to break A highs?
3. An X wave of some sorts with lower prices to follow?
I don't know all the rules of EW in my head so happy for comments, however, if this is just an X wave, then can price really go back to less than a dollar, which might be the case if this is an X wave??
ABX triple downward wave is over...ABX triple downward wave is over. The exchange rate points towards the end of a triple wave structure decline. In the picture, in the area marked with quadratic angles, we expect uncertain low-speed motion. From this rectangle, a dual wave structure ascending motion can start. The primary target price is 13.01 usd.
ABX Barrick Gold Beat Down Dog may Lead the NEXT GDX BuLL?Longer term trade setup for Canadians in RRSP or TFSA
Since no shorts can be taken in RRSP or TFSA in Canada be patient and plan out the longer term longs with the highest probability of working out.
The being patient part is still a significant challenge for myself.
Two options for entry if things work out and ABX gets this low.
Like anything else in life there is no gaurantee price will Reverse but if it does it is best to be prepared and have a plan.
Plan your trade and trade your plan.
$USDOLLAR Norm Winski 2018 vs 1937 Blood Red Moon Astro Chart calls GOLD Bottom REVERSAL
HTTPS://PBS.TWIMG.COM/MEDIA/DJHVVO5WSAAIXPX.JPG
High Octane Bullish Speculation On Barrick GoldABX is on a multi year bullish flag, and possibly forming a multi month reverse H&S (speculative). After hitting te 0.618 fib retracement from this years' highs and coming down, if the multi year support trend line holds (~0.236 fib retracement), it could form the reverse H&S and end the year breaking out of the multi year downtrend resistance line, meeting around the 1.618 fib retracement level (~18$ — which is also around 2017 highs).
LONG XAUUSDGold bouncing off bottom of upward channel on the weekly here. Could be a very bullish set up for a break over 1400. Perfect timing before the FOMC meeting
ABX short term declinePopular company in gold mines. go short or put option and the dashed line is SL.
ABX, one more low and ready to flyThis one has historically shown clearer wave count to me. Now it seems like it is in the final stage of a big correction.
Even though I don't think it will touch the $12.61 0.618 line.
I think it worth a try.
ABX looking for Gold!Back in December I bought my first shares of a gold mining company, ABX. For much of 2017, it was on a deep downward trend but being one of the largest mining companies in the world and the shares were cheap, I thought what the hell, let's see if she has any life left in her for the long term. Since the beginning of the year it appears to me that ABX has now shifted into a slight upward trend forming a channel with slightly higher highs and slightly higher lows. Will be watching the economy and news for awhile to see how this one plays out. I haven't seen much on TradingView about ABX so I thought I would share. As always, being new I look forward to soaking up any advice and comments I can get. Happy trading!
NEWMONT MINING ANOTHER STRONG GOLD MINERFollowing up on my recent, gold and gold mining sector analysis, i am seeing in newmont mining one of my favorit gold mining stocks.
From a technical perspective the bias is clearly bullish. Also fundamentally this stock is a top sector pick, they are providing strong earnings and are in good shape.
I am looking to buy, but current levels seem expensive, another leg lower would provide great r:r.
Blessings to you all.
BARRICK GOLD IS SETTING THE NEXT LEG HIGHER UPNice setup, big picture we are forming a big triangular trend continuation structure.
Shortterm looking for the gap close.
Notice the high volume breakout of the red wedge, and now the blue flag is a strong buy setup.
Blessings to you.
LONG ABX - Barrick Gold corpStrong volume on the weekly as well as a break above a recent trend line. Start of new strong uptrend forming
RGLD: Strong trend, interesting upside on the horizon$RGLD is a royalty company that invests, acquires and manage precious metals royalties and streams. The very strong technical chart suggests it's an ideal play to capture upside in gold while keeping risk low.
Their margins are typically much larger than explorers and producers, which allows them to thrive even during gold bear markets, which explains the drastically lower volatility compared to the gold chart.
Now that gold looks to be poised for a major move, I think $RGLD gives us great opportunity and surely deserves a look here.
I labeled some technical signals on the quarterly and monthly timeframes. The long term trend is already up, and targets point to prices over $200 in the not so distant future.
Best of luck if investing in shares of this company.
Have a nice weekend.
Ivan Labrie.
Barrick Gold #ABX long term buy at monthly demand at 8Buy Barrick Gold -1.98% at monthly demand around 8.20. Upper monthly demand zone has been tested, expecting bigger penetration and/or removal. Shorts until monthly demand is reached.
Interesting Set-up, Gold WeeklyI know most people are leaning bearish on gold, and for good reason.But I'm not convinced yet. It will be interesting to see if the price gets wedged over heavy resistance by the uptrend line, or fall through. Whichever way it goes there should be some good momentum and trading opportunities.
