With inflation no longer appearing to be "transitory" as the FED would like everyone to believe, now is a good time to consider diversifying your portfolio with some physical gold. Yes, physical gold! You might ask, why invest in gold? It has hardly performed over the past 10 years. Well that time is now as we are right on the precipice of the FEDs transitory...
Though the price has recovered a bit, we are still far away from announcing the end of the correction. In contrary, there is plenty of room left on the downside. In total, we expect the course to drop below $13.01.
My friend was asking me about Barrick Gold so I threw together this little chart. He had a ton of fundamental analysis about why Barrick was a good play, but this chart says enough.
Puts on Barrick Gold while Gold continues to trade weak down this channel. Considering longterm we're bullish on gold because of this decade long cup and handle, we're now...
Hope you all are doing good!!
I expect Barrick Gold to move UP after finishing the correction.
If looking for investment, look for your BUY setups.
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Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL &...
Next to coming up with semi-funny puns, we also analyze mining stocks. For Barrick Gold Corp, we expect the price to fall below $18.64 first and then even below $13.01. A long bearish run is, thus, continuing. A breakout would realize above $24.95 and has a chance of 30%.
Wait for the opportunity!
With the current losses in the price for the Barrick Gold Corp. stock, we are perfectly on track to move all the way down under the support at $13.01. There, we will have amazing opportunities to re-enter the market on the long side. If there is no sustainable breakout above $24.95, our primary expectation will remain in place.
Usually, Gold miners and ETFs perform better than gold itself. Whenever paper golds (Stocks and ETFs) underperform spot price it means something negative is about to happen in the stock market!
Today, most precious metal miners are negative! Take this phenomenon seriously!
Today, Gold experiencing its 9th green day in a row. Which is a very rare phenomenon! you...
As previously mentioned in my outlook of SPY , the best way to play this is ticker GOLD. Barrick recently breached the 200 day MA and is currently resting here. Today it traced back down to 200MA and went back up. There are buyers here waiting to see what happens. If you read my SPY idea, you can look back and see what happened around the end of 2018. Gold...
Today, we will speak about Barrick Gold Corporation :
Barrick Gold Corp. engages in the production and sale of gold and copper, as well as related activities such as exploration and mine development. It operates through the following segments: Barrick Nevada, Veladero, Pueblo Viejo, Lagunas Norte, Turquoise Ridge, Acacia, and Pascua-Lama. The company was founded...
We are in an environment where precious metal should thrive. Past 6 months Gold, silver, miners, etc have been lagging behind. Did Bitcoin replace gold and silver? No! We still need metals especially silver.
Weekly Barrick Gold chart looks bullish. Price is bouncing off 200 MA, broke out of and retest falling wedge.
Pays a dividend on top of it all.
Gold is cheap. Can it go lower? Of course it could. However, I see more upside risk. There is symmetrical triangle building up. I drew potential break-out road for this pattern based on existing trend lines.
Share your thoughts
So Gold is finally back in a buy/accumulation zone, even though DXY may have more room to run I doubt this will translate in to heavy downside for gold. 1650 maybe? However, the stars look alligned once again to buy gold, or in this case GDX (Gold miners ETF). You can see the trade parameters in the chart. But this is definetely an opportunity...