ABX Surged to Topside of the Trend, Potential Reversal
Barrick Gold Corporation surged in the last two week as gold rises amid a global stock market correction. Where the stock price high rocketed to see gains as high as 26%. Now price is trading at key resistance of the bearish channel. Look closely to the performance of gold for the direction of price.
Trade Step-ups:
Bearish Reversal: Price rejects a breakout from current trend. Profit levels to look for are 10.50 and 9.50.
Bullish Breakout: Price breaks from current trend channel, look for consolidation above 13.00.
Trade Step-ups:
Bearish Reversal: Price rejects a breakout from current trend. Profit levels to look for are 10.50 and 9.50.
Bullish Breakout: Price breaks from current trend channel, look for consolidation above 13.00.
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