Barrick Gold, JNUG, NEM, GDX, GLD are all buys here in my opinion. Commodities are oversold and Barrick Gold appears to have bounced off long term support and consolidating here. Fundamentally gold should be 3-5,000.00 oz by now with the reckless fiscal policy of the US government and other governments for decades of perpetual QE and money printing.
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Let me start by saying that I am a big fan of Barrick but have been looking for an entry point for some time and now am sharing my view with everyone. Purely technical analysis based on a Elliot Wave. But simple, there was a big dip, partial retracement, and I expect this present dip to be about the same size in $ terms not...
It seems like all trading rules are out of control in this bearish market. One of the Greatest investors of all time Warren Buffett said "be greedy when others are fearful; and be fearful when others are Greedy" this rings true in the mind. However Buffer was an investor & not a traders. the rules differ or both games.
THIS IS ONE OF MY BEST & MOST PROFITABLE...
Down it goes! Just as we expected, the bears are in high gear and have proceeded to carry Barrick downwards. Soon, they should reach the support at $13.01 and lead the price below this mark. However, there still remains a 35% chance that Barrick could escape the bears’ paws and rise above the resistance at $24.95, thus activating further ascent above the next ones...
The PEAD projected a Neutral outlook for $GOLD after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 85.71%.
The bears have already shown their potential regarding Barrick Gold and should continue to do so. We expect them to drag Barrick further down below the support line at $13.01, where wave (2) in yellow and thus the overarching downward movement should end. There remains a 35% chance, though, that the bulls could intervene and challenge the bears’ claim. This...
"An inverse head and shoulders pattern is comprised of three component parts: After long bearish trends, the price falls to a trough and subsequently rises to form a peak. The price falls again to form a second trough substantially below the initial low and rises yet again." Investopedia
Barrick Gold ($GOLD) - Daily hidden bullish divergence confirmed, with price reclaiming the 200MA in confluence with the 0.618 fib level. We can also see price has broken out of the short term supply line.
4R:R
Garrick Gold broke out of a downtrendline. It also came down to retest midbox @ 21.45 & bounced.
This is the perfect place to start a rally to BO the yellow consolidation box which also looks like a cup.
The measured move of the cup would be 34 TP.
This is a the perfect time for commodities & metals to shine!
Not trading advice.
Gold commodity is breaking out and will propel Barrick GOLD to new highs in the coming months and years. Barrick is breaking out. I have long been holding 27,000 shares as low at $10 with an average around $16. Today I purchased 250 calls. GL
A golden cross is the opposite of a death cross which is a bullish sign. The 50 dma is crossing UP through the 200dma. It's getting close short term overbought, any pullbacks are adding opportunities. GOLD the metal is not going up solely because of Ukraine but is likely adding a short term premium on it and would expect a pullback on any resolution, though I...
Real nice demand line here on Barracks Gold. Breaking above a critical inflection zone there at about 21$. A confirmation low would be ideal to confirm, what was once resistance is now support. We hit the 1.618, but the real target here on the Bearish bat would be the .886 which is confluent that zone there just under $40. This is a long hold.
Here is another example of the macd divergence strategy outlined in previous post playing out. MACD trends down while price moves upward. Price quickly corrects back down. I will be paying attention to this from now on.
Gold is still perceived as a storehouse of wealth, even if it is increasingly less intrinsically useful. And, in our turbulent times, it's no surprise that as our equities markets tumble, investors are looking or safe havens. Gold and metals will remain one in the vacuum of other options.
