Barrick: Proxy Play On Gold?
Peter Brandt | Dec 11, 2018 12:01AM ET
I have featured Barrick Gold Corporation (NYSE:ABX) in recent Factor updates as a possible proxy play on Gold. The monthly chart shows a 28-month falling wedge. Remember that a falling wedge is a diagonal pattern and subject to less reliability and trickier breakouts.
The daily graph on ABX displays a possible 7-week continuation H&S pattern. Price broke out of this H&S on Friday, triggering a potential target on ABX of $18.14.
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