Loading ...ABX – Barrick Gold Yearly Inverse H&S?
This is an opinion. That is all. It’s what I see when I look at everything in the gold sector. Including Gold itself as well. We’ve been waiting inside the right shoulder forever it feels like. But until (or if) it breaks up, don’t be discouraged. I’d like to think that many of these gold companies have been earning a nice coin with gold being above 1200 for so long. Most have all in breakeven costs at 800oz because of the adjustments made during the bear market. They should mean revert, plus break the neckline upwards giving a stronger push up. When you look at it from this macro point of view, it’s a drastic change that SHOULD take a while. Patience is a virtue? It can’t be this organized can it? (I personally think yes)
Every pattern can have a bullish or bearish outcome. Even a head and shoulders that fails to do its thing can become a triangle continuation, wedge, etc.
Thank you for the chart. I agree with you at this point in the gold cycle.
I got 100 shares remaining of the above mentioned. Fairly sure the braintrust probably hasn’t missed a paycheck, I keep the 100 shares as a sounding board for any further investment choices. I’m going to keep those 100 shares just so I can look at them.
It’s not Patience in my case.