On the above 2 month chart price action has enjoyed a 340% rally from the $7 lows of 2016. A number of reasons now exist to take a bearish outlook.
1) Broken market structure printed in 2013. Confirmation of broken structure printed recently in March 2022 (yellow arrow).
2) Trend reversal. Lower high replaces higher high.
3) The rising flag pattern is...
Barrick Gold, NYSE:GOLD , a prominent mining corporation, has recently achieved a noteworthy milestone by reclaiming a critical trendline on the weekly chart and stabilizing between the 78.6% and 88.2% Fibonacci retracement levels. Our initial investment was strategically placed at $14.77, located within the highest volume area observed since 2008 according to...
Bought on March 11-13 and currently up. A one month play I am learning to take longer outlook trades s as not to lose my shirt. So are up about $260 Canadian. I think I will exit shortly. Some news happening around the fear causing war. Sometimes fear causes me to jump in deeper when the pack is running. I love a good short though. None the less I think the...
Barrick Gold Prints an Inverse Head & Shoulders Pattern which is Bullish.
Switching to a Line Chart shows the Pattern.
As always, get a few outside Expert's Advice before taking Trade or Investment decisions.
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Barrick Gold Corporation (NYSE: TVC:GOLD ) is leveraging strategic partnerships and robust financial foundations to navigate the ever-evolving landscape of the mining industry. Chairman John Thornton's resounding message, articulated in the 2024 Information Circular, underscores Barrick's transformation into a modern mining powerhouse with a steadfast commitment...
Today on the radar, Barrick Gold
Barrick Gold has attracted some attention as major investors, including recently the notable Stanley Druckenmiller, have taken significant positions. With these influential players entering the fray, while the gold market experiencing remarkable momentum, the question emerges: Is this the right moment to buy? Well, let's dive on...
GOLD - Ticker for Barrick Gold, Has Underperformed in comparison to their Peers.
Even the South African Gold Miners are up some 10 - 20% of late.
The reasons for the latest rally are many and interesting, and can still offer further Profit.
Obviously, getting in early gives you more Alpha or % Gain. This is the Risk of Investing!
I'm uncertain of the reason for...
The last time Gold was trading at $2100, Barrick Gold was at $26! Today it is still below $16. The world is obsessed with tech stocks while the gold stocks are deeply undervalued. This is such a strong buy.
This chart shows the physical Gold price versus Barrick Gold. Both have been rebased to 100 and so that they can be accurately compared. Gold has pushed to...
Technical analysis:
So when we have a look at the chart we can see that the price has reached some sort of resistance and we see that it bounced back yesterday to the top side. This could be a good indicator that the price has done dropping en is going to go up from this point.
Fundamental analysis
Okay so when we have a look at the basic and most important...
Many traders believe that investing in a wide variety of assets is the best way to achieve optimal diversification. However, we disagree with this notion. It's the correlations that matter. Holding 20 tech stocks, for example, results in a high correlation among investments, offering little in terms of true diversification. Therefore, we're also looking at a gold...
-SMALL TIMEFRAME PLAY
- After the bullish momentum started to diminish price action showed its hand by not making
new higher highs
- Created and solidified lower highs and lower lows
-With inefficiency to be filled and LLs , Lhs ,showing potential P.O.I with bearish volume rising.
- Good R/W
-Any Questions Feel Free To Message ne on IG: butterflyeffecttrading
Last week, following the earnings release GOLD rebounced off multiple bottom support line and could spark up higher led by 1) strong guidance 2) high gold prices, and 3) divergence with the latter. For Q4 2023, Barrick has demonstrated organic growth in gold reserves for the third year in a row. The Company increased its gold mineral reserves by 5 million ounces...
Barrick Gold Corporation Faces Bearish Pressures as Support Breaks
Barrick Gold Corporation, a major player in the precious metals industry, is currently facing significant bearish pressures as it breaks support levels and forms a bearish pennant pattern to the downside. This development has raised concerns among investors, with the potential for a further...
As it can be seen in the chart we have a high positive correlation between gold prices and Barrick Gold Corporation as they move together.
Previously as stock prices formed a new high gold price failed to do so and this represents a bearish divergence between prices and caused stock price to move lower sharply while gold price remained roughly around the prices...
I know most gold miners are just terrible over long periods of time...
But an opportunity may be morphing into existence right now for Barrick.
The setup is now definitely there for the taking.
#barrick #gold
