Tuesday, 4 April 2017

ABX - broadly strong

With the precious metals continuing to lean upward, the related mining stocks followed. Barrick Gold (ABX) settled higher for a third consecutive day, +0.8% at $19.47. The mid term bullish trend remains comfortably intact. The bigger issue is whether the summer 2016 highs are taken out this year.

ABX, daily


So.. a third day higher. Recent price structure is arguably just a bull flag, and that offers the $20.00 threshold in the near term. The Feb' high of $20.75 is within range by May. Any daily closes >$21 will offer a challenge of the July high of $23.38.

Barrick Gold remains a personal favourite. I'm seeking far higher levels into 2018. That will of course require Gold >$1400... along with some other things to occur.

For details, see: http://permabeardoomster.blogspot.com/p/research-reports.html