Interesting basing pattern on Barrick. Could go to 18
I'll be watching ABX.TO tomorrow for a potential swing entry. My entry stop will be below the last hourly support and if I do take this trade, I will monitor any SPY consolidation to ensure my position is not in danger. Key resistance 17.40
Barrick Gold (ABX) Q1 Earnings In Line, Sales Beat Estimates. Technicals confirm bullish sentiment. RSI downtrend broke above. V bottom on higher TF. Coppock heading to break 0 line. FIB retracement 50-61.8%. Recently price of GOLD have stabilized finishing the downward movement since 2012. Expectation for appreciation in metal prices. Long-term BUY. Good Luck
ABX 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.
Barrick gold -0.45% is evolving into a nice parallel channel . There is also a divergence between price action and the oscillator. That is why I would tend to be bullish on a swing outlook . However, the gold 0.83% market is still down. At least, we now have the Fed's decision on interest rates. Keep in mind that unemployment is at historical low in the US and...
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...
ABX 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...
Barrick Gold Corp. for a long time . The exchange rate has ended its correction. The correction level is 11.49 usd. From this level, it offers a very good opportunity for a longer-term investment. The movement of the exchange rate is probable on a double wave structure. The first wave (0A) and the second (BC). Currently, the exchange rate moves in the (BC)...
Barrick Gold #ABX long scenarios at new monthly demand zones. Potential new demand zones being created off tested monthly demand zone around 14.00 which played out nicely. Long term buy setup at monthly demand around 8.00, very low at all time lows. Monthly demand level has a very strong bullish impulse. Shorts if upper monthly demand level is taken out
Nice 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.
Buy 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.
The stock price of Barrick Gold Corporation (ABX) as traded on the TSX.
It had been an unstable year for miners, with metal prices starting near multi-year lows as executives drew from a common playbook. However, the stock is not yet fizzled out. A trade setup has been marked well on the chart.