ABX Could be Leading Gold
ABX – Barrick Gold Corporation (NYSE)
I have featured 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.
The daily graph on ABX (Barrick Gold) 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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