x45lu

Barrick Gold: Huge Buying Opportunity

Long
TSX:ABX   BARRICK GOLD CORPORATION
Hello traders,

Looking at the daily chart for ABX , it is at the really critical level.

RSI is oversold for the first time in the daily chart this year, and there is confluent layer of trading volume in this trading range:

resistance (Feb 25th, 2020)
support (June 5th, 2020)

Also, XAUUSD is at 200MA in daily chart as well.

We can expect relief rally if and only if we see drop in Bitcoin and SPX . My first target will be the 200MA which is about $32-33

Comments

When you say your first target, do you mean that is for resistance? or you are buying below 32 and 33?
Reply
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