Promising Long Opportunity for Barrick Gold

Berkshire Hathaway may have bought this back in the second quarter but it is not too late to get onboard this market. The technical outlook appears bullish over the mid-term as we expect more upside from this market over the next three months. That said, we would wait for the price to retest channel support at around $25 before moving in. Our upside target is between $35 - $36. Even though we know that price could easily get higher, our objective is clear: a three-month trade for a 30% - 35% profit.

Comment:

Clearly, the decision to wait for price to retest channel support at around $25 was the right call. :)