Barrick Gold (GOLD)

Barrick Gold going from Downward to Upward

Grinding it’s way from Long Term Downward to, at least Neutral, almost an Upward trend. It is just starting to outperform the Gold Miners Index (GDM)(GDX), and Gold bullion. over 200 days. The Gold Miners Index is outperforming the S&P 500 Index, over 200 days. So, we’ll see if the M&A action in the gold mining industry will pay off for investors.

Looking at this chart of Barrick (GOLD), 36 Months, Monthly, there is a major S/R (Support and Resistance Price Level)  at $13.99. trading at $14.12.

Barrick Gold (GOLD)

Author: Trendanomics

Trend following the markets with simple trend following strategies.