ABX triple downward wave is over. The exchange rate points towards the end of a triple wave structure decline. In the picture, in the area marked with quadratic angles, we expect uncertain low-speed motion. From this rectangle, a dual wave structure ascending motion can start. The primary target price is 13.01 usd.
Barrick Gold Corporation surged in the last two week as gold rises amid a global stock market correction. Where the stock price high rocketed to see gains as high as 26%. Now price is trading at key resistance of the bearish channel. Look closely to the performance of gold for the direction of price.
Bearish Reversal: Price rejects a breakout ...
$ABX Bearish shooting star candle into earnings later today. Looking overbought on the daily chart. Expecting a near term price correction.
Targeting $10.00-11.50 range
Note: Informational analysis, not investment advice.
ABX seems ready to complete a potential 5 wave correction. A rejection on the upper trendline can indicate the starting point for the final E wave. If this is the case i'm expecting a strong breakout to the upside.
Barrick gold -0.45% is evolving into a nice parallel channel . There is also a divergence between price action and the oscillator. That is why I would tend to be bullish on a swing outlook. However, the gold 0.83% market is still down. At least, we now have the Fed's decision on interest rates. Keep in mind that unemployment is at historical low in the US and wage ...