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BARRICK MINING CORPORATIONBARRICK MINING CORPORATIONBARRICK MINING CORPORATION

BARRICK MINING CORPORATION

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Barrick to $12?Hello, Thanks for viewing. Let me start by saying that I am a big fan of Barrick but have been looking for an entry point for some time and now am sharing my view with everyone. Purely technical analysis based on a Elliot Wave. But simple, there was a big dip, partial retracement, and I expect this present dip to be about the same size in $ terms not percentage. If The first drop was wave A and the three wave retracement was wave B (it is a bit messy there) then we are in wave C down now. Wave C always has 5 waves (3 in the trend direction and 2 counter-trend sub-waves). Short term: bear, Short to med term (once that first target is met); weak bull up to $17 - 18 - if you are trader this will be a difficult area to trade in). Medium term' Bear; Down to sub-$14 possibly $12 or $11.XX This target was reached with multiple coincident mapping techniques: Fib extensions - 1.618 extension of wave 1 and a 1:1 extension of wave A. Wave 5 of wave C can be expected to be a similar size to wave 1. Also looked back at swing lows and highs from past price action to map support and resistance (17.50 - 17.30 WAS support in 2021 but is likely to act as resistance to a wave 4 (of wave C) pull-back (as mapped). I don't really do fundamental analysis, but Barrick - being a metals equity - represents leverage on the underlying commodity. Do gold dips 18% and Barrick dips approx 40%. General headwinds for equity markets with rising interest rates - unsustainable in my view. Next week the consensus is for a 0.75% interest rate hike which makes equities and gold (the commodity) less desirable to hold vs a reliable cash coupon. (Also unsustainable in my view if inflation is north of 8% and Treasuries return 4% that is still a negative 4% real yield). Crude oil (a major input into the production cost of mining) is elevated presently which squeezes Barrick's margins. Recent weakness in the gold, silver and copper commodity prices. Anyway, GOLD at $12 would be a screaming BUY. If it gets to that level... I could go on, but I have a something on.
NYSE:BShort
by flyinkiwi10
1
Bearish market is changing the rulesIt seems like all trading rules are out of control in this bearish market. One of the Greatest investors of all time Warren Buffett said "be greedy when others are fearful; and be fearful when others are Greedy" this rings true in the mind. However Buffer was an investor & not a traders. the rules differ or both games. THIS IS ONE OF MY BEST & MOST PROFITABLE trades. short term (W) is in correction while longterm (M) still technically in uptrend. price comes into the DZ which is the HL (Higher Low) of the longterm (M) chart. provide low risk entry & high profit. It seems in this market nothing hold true. As the price broke through the DZ. I followed my rules and took the Loss. If there is a lesson to carry. the DZ was tested (in the dark square) this basically weakens the DZ. One of my first trading teacher compared a DZ to a door. the more you knock on the door the more likely it will break down. This DZ door has been knocked before. it broke & the door opened. A better trade enhancer would of been a fresh untested DZ
TSX:ABXLong
by greatful-me
Barrick Gold: Come on, Bears!The bears have already shown their potential regarding Barrick Gold and should continue to do so. We expect them to drag Barrick further down below the support line at $13.01, where wave (2) in yellow and thus the overarching downward movement should end. There remains a 35% chance, though, that the bulls could intervene and challenge the bears’ claim. This alternative scenario could come into play if Barrick rose above the resistance at $24.95 and would entail a continuation of the ascent above the next resistance lines at $29.59 and $31.22.
NYSE:B
by MarketIntel
GOLD- Barrick GOLD just printed a GOLDEN CROSSA golden cross is the opposite of a death cross which is a bullish sign. The 50 dma is crossing UP through the 200dma. It's getting close short term overbought, any pullbacks are adding opportunities. GOLD the metal is not going up solely because of Ukraine but is likely adding a short term premium on it and would expect a pullback on any resolution, though I don't see this ending, or ending well...... We can only pray someone near Putin takes him out for the sake of humanity and ends this unprovoked genocide. I am beyond disturbed by what's transpiring and this is already out of hand. This can turn into WW3 easily and soon, sadly I fear. I digress, GOLD the metal will have many pullbacks on it's way to $3,000, $5,000 and $10,000. That's how bad things will get. There will be a dollar crisis, a Great Depression 2 and maybe ww3 in my lifetime. Money will be the least of our problems. I suggest to keep on hand some silver and physical gold for use as money in the future. Gold miners are a highly leveraged way to play the gold run which will last for years or longer. Barrick in my opinion is the best well run gold and copper miner which pays a nice dividend. Stay away from Bitcoin and other shitcoins, they are all a SCAM!! GL Hoping for the best. I stand with Ukraine!!!!! F Putin!!!!
NYSE:BLong
by ShortSeller76