GOLD pulls back into the 200 sma support on drying up volume to -29%, testing the support (testing for supply) of the oversold lows end of may.
The short term random walk trend is down, the short term sma trend is up. Depending on the trend direction, this test is read as a sign of strength or weakness, which is the limitation of the programmed indicators. As this...
Barrick Gold ? Really ? .... yes... barrick gold ... the triangle, and the sideways consolidation along with most likely (not confirmed) increasing earnings makes this a buy here... i'm in :)
Ever heard of the Barrick Bears? They are a great team, which should help to push our primary scenario for Barrick. Currently, they have to fight against a little bullish counter reaction, but soon they should drag the share below the support at $12.65 and into the yellow zone between $11.97 and $6.32. There, wave (2) in yellow should end and therefore a fresh...
Barrick still has got heaps of digging operations to do. The share should continue the downwards movement it has started from the last high of wave (iv) in blue and drop below the support line at $12.65. Thereupon, Barrick should enter the yellow zone between $11.97 and $6.32 to develop wave (2) in yellow, whose low should then complete the overarching downwards...
Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. It has ownership interests in producing gold mines that are located in Argentina, Canada, Cote d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States. The company also has ownership interests...
Good long term investment here as we see a macro bullish harmonic with a mini fractal. Harmonic targets in confluence with supply zone (red fib levels) Accumulate and enjoy your retirement
SPY - reversed early downside action to start the week flat at the moment. Traders are dividend on what to make of the news that central banks around the world back-stopping failing banks and bolstering the flow of cash around the world to prevent a fast-moving loss of confidence in the financial system's stability. Since the moves seem so divided, no bias today...
After the 80% in 2013, the Gold Pushers have been saying "buy gold" "buy gold" for the last decade.
During that time, we saw a sideways consolidation pattern where gold is around the same place today as it was 10 years ago.
Meanwhile, SPY grew 3X before drawing down a reasonable 20%. BTC grew 129X drawing down 60%. My hands were in SPY and BTC.
However, now...
After we hit the 1st price target in the last chart:
Now you should know that GOLD, Barrick Gold Corporation, is the usual suspect against the higher inflation numbers.
Looking at the GOLD Barrick Gold options chain ahead of earnings , I would buy the $18 strike price Calls with
2023-3-17 expiration date for about
$0.81 premium.
If the options turn out to be...
SPY - had an impressive rally yesterday lead by the tech sector. We want to watch for SPY to retest and hold the breakout level between 388 and 390, getting close in the PM already.
Oil names might be gearing up for a bounce trade. Look for the 66.50 in WTI level to hold. If it does, looking for names that held most of the gains after PD rally like $ET....
A clear setup; with the long-term chart (M) month. in downtrend. The Current-chart (W) Week is also in downtrend. the (W) is in clear move up, lots of buying to support this momentary fake uptrend. How do I know it is fake. Well one never knows anything as a disclaimer for any trading position; we stack up odd Enhancers in our favour.
So, why did I take the SHRT...
Although Barrick Gold currently trades at its most attractive valuation since the end of 2015, but the company is in much stronger shape than it was 7 years ago.
Take a look at the following numbers:
Year 2015 2016 2017 2018 2019 2020 2021
Total Assets: ...
We think that there could be a lot of downside in the pipeline for Barrick Gold and here it has printed what appears to be a mini blow off top out of a bearish ascending channel.
Hitting the 0.5 retracement and gapping up through the 200DMA, this looks ripe for a reversal.
If dollar shows strength and also markets crash then this could have quite a big fall from...
NYSE:GOLD
Daily chart: Price cross above SMA 200, bullish confirmation candles.
The pair has been trending upward on the daily chart .
Price is making higher highs and higher lows overall.
Price recently hit a top of resistance, which then quickly reversed, which than price rejected EMA21 to the upside.
Bearish candlestick formation starting to form.
Entry...
