Buy a clean break of the neckline
ABX(daily chart). At Support, 200 sma, Bat.
$GLD $ABX $GDX levels to watch for possible profit taking or exit as time can limit the typical trend following
in tandem with gold. looking for furter move up
I'll be watching ABX.TO tomorrow for a potential swing entry. My entry stop will be below the last hourly support and if I do take this trade, I will monitor any SPY consolidation to ensure my position is not in danger. Key resistance 17.40
Moment of truth. Next week we will se if Barrick Gold has found its bottom. Strong buy is my recommendation. good luck to all an especially myself :-)
Chart is clear enough to understand the buy logic. Happy Trading
Thx @curiousbuild : you said about $XGD.TO. I did some research $XGD.TO and $ABX.TO. Now I'm very bullish on ABX and gold miners as well. At least touching magic point !!
indicators good
The stock price of Barrick Gold Corporation (ABX) as traded on the TSX.
Look for strong resistance at the $25.40 area, with retesting the bottom of the channel. This has broken out of the bearish trend from August of 2016, with RSI trending up (clear bull divergence here).
The Dollar/Commodity relationship has resulted in a long downtrend for some commodities since 2014. What's interesting though is that Gold seems to have been trading in the same range since June 2013. If this consolidation breaks up, we could be facing some interesting times. Although I wouldn't be betting on commodities with a DXY continuation still possible,...