Will GOLD hold up trend?Can Barrick rally back? Looking for a rebound above $30 to continue it's bull run.
GOLD/N trade ideas
ABX Trend - The price movement is slowing down - Mid RangeThe canal broke last month and the trend tend to be bullish.
In the next few days we might see a clear trend appear and we might be able to use new information in a more glabal view to take actions.
To be honnest I'm gonna wait until an oppurtunity to open to jump in.
Warren Buffett Bought Barrick Gold Stock Should You Also?It was announced last week that the CEO of Berkshire Hathaway, Warren Buffett, bought 1.2% of outstanding stocks of Barrick Gold between 26 & 27. Should you also buy the stock? I think you should follow where money goes... however, looking at the daily chart, immediately after the announcement, the stock price gapped-up thereby creating liquidity void. It will be good to see price filling this gap & any price rejection between 27 & 28.85 will be a better time to follow smart monies as long as the general market sentiments remain bullish.
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
BARRICK GOLD & BTC USD CORRELATIONBy looking at the chart above, you can see a strong correlation between GOLD and BTC movement.
In-explainable, but the charts tell their own story. We just FOLLOW THE TREND.
My long term prediction is BTC will surpass gold and become gold2.0.
NYSE:GOLD BITSTAMP:BTCUSD
BITCOIN GOLD CORRELATIONAs much as we love to stare at charts and over analyze chart trends and lines, Bitcoin has often proved to be an exception. My personal opinion is regular chart analytics don't necessarily work when it comes to BTC. My short term prediction is a breakout . A great selling opportunity ahead in the next few days for short term and swing traders. Hopefully you didn't miss the recent buying opportunity.
I say this due to BTC's strange correlation with gold . And guess who has just changed their story - the Warren Buffet team (world's 15th most powerful man). Previously called gold an unstable asset and compared BTC to rat poison; he now invested heftily in gold ($563.6 mil) and plans to invest in BTC.
This is great for BTC confidence, publicity, but also great for the gold market. People often follow the big names. Therefore, lookout for the BTC GOLD correlation and right now, HODL until we see the breakout !
