GOLD Rubberband SnapbackLooks like GOLD has rallied to far to fast, extending beyond the bollinger band and ranking over 90 on stochastics. Being that its on its 3-4 consecutive up day, these are all pointing to selloff for people to start taking profits. This can run down to 22 range, before it can rebase and run higher.
GOLD/N trade ideas
Barrick Gold reaching resistance.Barrick Gold bounced almost perfectly off of the rising support line of the monthly ascending triangle. Price is approaching the horizontal resistance, and a pull back to support is likely here. A close with breakout on volume above the resistance line would be an extremely bullish signal.
GOLD SnapbackGOLD fell down all the way to the $13 level today, followed by a huge bounce closing at 16.3. This is equated to a snapback that was needed due to a rapid decline in gold over the last week. I do believe gold has reached its bottom today and will see alot more upside in the coming days. This play will be until the 19 level where it will face resistance, before it can continue another push higher potentially.
BARRICK GOLD - ABX Nice climb up as SAFE HAVENBARRICK GOLD - ABX
Nice climb up as SAFE HAVEN IN GOLD STOCKS...during these times. Recently given upgrade valuation.. NEW YOR analysts. AVERGE TARGET --- C$28.84 ▲ (8.88% Upside). UPSIDE GOLD
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$GOLD.Hace unos días subía este gráfico mostrando la formación de HCH invertido que se estaba gestando en $GOLD. El mercado también estaba dando indicios de que estaba buscando un refugio de valor ante la expansión del coronavirus. Hoy cierra exactamente donde estaba fijado mi objetivo dado por la extensión de la figura. Algunos dicen que el AT es verso, la realidad siempre termina mostrando lo contrario, lo real si es que twitter esta lleno de vende humos, eso es otra cosa.
Barrick making a multi year Leading Diagonal? $37 by Sept 2021Could Barrick Gold make a multi year Leading Diagonal?
Could we see $37 in Sept 2021 hitting the 161.8% extension of wave 1?
Then to retrace 38.2% by March 2024 to $24 before finishing the leading diagonal at $55 in March 2026
Could the leading diagonal end at the previous ATH back in 2011?
Such a long term estimate is difficult but I would like to come back to this in 2021-2022
GOLD (Barrick) The gold mine. GOLD (Barrick) The gold mine. The exchange rate may be facing a significant rise. The technical picture shows that we are in phase 3 of a very regular evolving fractal system. Typically, the previous fractals are copied at a 2: 1 ratio. Let's pause here. It is common for Stage 2 to finish copying (which we have not yet seen) and switch to another rule system. It is the "forerunner" of exponential growth. This is no different than the FIBO series. 1-2-3-5 For now, we are on the verge of this. Now I can't decide whether it's going to be a regular 2: 1 fractal copy or the 3rd wave of that FIBO series. In any case, I expect a steady rise with a target price of $ 33.50.