ABX Could Be Leading Gold

CEO, Factor LLC • Dec 10, 2018 at 2:05 PM EST

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.

I have featured Barrick Gold Corporation (NYSE: ABX) in recent Factor updates as a possible proxy play on Gold. The monthly chart exhibits a 28-month falling wedge. Remember that a falling wedge is a diagonal pattern and subject to less reliability and trickier breakouts.

(Click on image to enlarge)

ABX Barrick Gold - Peter Brandt

The daily graph on ABX (Barrick Gold Corporation) 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.

(Click on image to enlarge)

ABX Barrick Gold - Peter Brandt

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