The exchange rate has entered a correction phase. Therefore a correction wave is expected. This wave should be used for long-distance entry. The analysis shows that the exchange rate creates a fractal movement. Its size is similar to the size of the 1st fractal. Therefore, we can use this target price. And it can be seen that the exchange rate started to rise in...
USDJPY Yen and Inverse Gold (indicating dollar value - Barrick Gold has longer data to 1986) as Store of Funds for Stock Purchases vs. DJI; with comparisons to USDEUR and the DXY dollar index . Phases of positive correlation and also phases of inverse correlation.
If there is one stock you want to own to participate in the coming massive bull market in PMs it is Barrick Gold. Ive always hated this company in the past because of accusations of manipulating the gold market and inherent corruption within the company...but now with the recent merger with randgold and joint ventures with Newmont i feel barrick is finally going...
I know this idea is definitely in the minority, however i remain long term bullish.
As you can see on this yearly chart, gold has broken out of its downtrend, (Red Channel). Now in a slight uptrend (Blue Channel) with minor runs possibly lasting 3-4 months. A break of the blue uptrend channel is a definite sell signal.
This idea comes from way out in left field...
The exchange rate has reached the bottom of its correction level. This level could be 12.16 usd. I expect a rise from this level. The rise target price is 13.26 usd. Other Strategic Formatting The "mirror axis" projected on the D1 ATR axis is expected to be tested. This is the primary resistance level.
Gold ST trending down, Barrick is a bad position. Hope you didn't buy at support...even though I know you did.
P.s. You can compensate the loss by investing in Stocks
Barrick has been consolidating for a few months and is ready for lift off to next resistance
Tailwinds: SPX likely topping a head & shoulders pattern + DXY entering consolidation
Only for educational purporses
False breakout, this is why I always wait for for confirmation. Can't imagine how many lost their money today.
Learn from your mistakes, this particular lesson is 'gold'.
