Barrick Gold ($ABX)

the press is out and the Gold Bulls are only 13% bullish … the “look and feel” of Gold is that it’s “done” and in a bear market to stay … while stocks like $NFLX, $GOOG, $DIS, $NKE continue their parabolic ascent the “crowd” is pitching out and now it’s time to focus our efforts and sectors that have really been hammered.

Here’s a chart of $ABX.  6.84 sure looks promising.

Thanks for reading.

$ABX - NOTE the bullish divergence 2 years in the making
$ABX – NOTE the bullish divergence 2 years in the making

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

One thought on “Barrick Gold ($ABX)”

  1. The two corrections look similar (expanded flats) The correction from “94-late 2000” lasted 81 months with the final wave from the top lasting 56 months. The current correction has already lasted 88 months. This last wave down should last 10 more months to equal 56 months in comparison (May 2016) and shows a lot more divergence.
    Thanks for the long term perspective.

    Reply

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