Thanks to FED rate cut, no opportunity cost to holding gold.The outlook for gold price just got shinier. With inflation at 2.1% (PPI) and 3 month T-Bills at 1.25%, it makes no sense to be in cash (short term) se
Barrickgoldcorporation
GOLD Va hacia nuevos máximos!!!Después de un patrón de corrección de medio tiempo, GOLD se prepara para ir a nuevos máximos... alimentado con el conflicto de EEUU e Irán...
GOLD (NYSE) long setup 1:3 risk with multiple targetsGOLD is a gold mining company, Barrick Gold Corporation. GOLD broke out the resistance and stayed above it. I'm expecting more up move. Winning probability of this trade is less than 35%. I am going to trade this setup with a proper risk management.
GOLD LONG SETUP:
1. Entry: 16.76 (or market open at 29th Nov 19)
2. Entry: 17.23
Stop-loss: 15.96 (0.8 pts)
1. Target: 18.96 (2.2 pts - 2.75 R)
2. Target: 19.97 (3.21 pts - 4.0 R)
Disclaimer: This is not a financial or investment advice.
Trade safe,
Atilla Yurtseven
GOLD (Barrick) Huge gold mine riseGOLD (Barrick) Huge gold mine rise. A large part of the analyzes suggest a larger rise in the gold price. I strongly believe that gold mining stocks will be raised even more. If you look at the movement of the Barrick Gold exchange rate, you can see that the exchange rate could go through a regular fractal build. The orbit of these can be twice that of the previous movement. Therefore, I consider this stock one of the best investments of the coming years.
FOMO in GOLD? Barrick is looking extremely overbought and in a FOMO stage. Weekly charts still show there some upside left. However, historical RSI levels are way too high. Also, if price action turns at these levels and shows signs of resistance, price will cool off. There wont be any real break out until it pops out of this downward channel that appears to be forming. Exercise caution if you are going long. Gold has been in a multi-year bear market. Is this the beginning of a new trend or simply a FOMO rally?
ABX POTENTIAL 5 WAVE CORRECTION BEFORE THE BREAKOUTABX 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.
