Barrick Gold (GOLD) headquartered in Toronto, is a major player in global gold and copper mining since 1983. With operations in various countries, the company is a key contributor to the worldwide gold supply. Known for its commitment to responsible practices, Barrick's leadership guides sustainable mining efforts. Below we update the Elliott Wave outlook for the company.
Barrick (GOLD) Weekly Elliott Wave Chart
Barrick Gold is doing a nest since September 2015 low. Up from there, wave (I) ended at 23.47 and wave (II) dips ended at 9.53. Wave (III) is in progress as an impulse. Up from wave (II), wave I ended at 31.22 and pullback in wave II ended at 13.01. The stock resumed higher in wave III. Up from wave II, wave (1) ended at 20.19 and pullback in wave (2) ended at 13.82 as an expanded flat. Down from wave (1), wave A ended at 15.48, wave B ended at 20.75, and wave C lower ended at 13.82 which completed wave (2). Up from there, wave 1 ended at 18.55. Pullback in wave 2 is now in progress and while the stock stays above 13.82, it should turn higher soon.
Source: https://elliottwave-forecast.com/stock-market/barrick-gold-nyse-gold-looking-bottom/
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