Barrick Gold falling wedge & supported by mid-term trend line
Macro environment:
With Fed continuing to print money, inflation is no longer transitory.
Without a clear timeline for taper, gold will present opportunities for hedge.
Even if interest rates are raised, market turmoil should also be good for safe havens like gold
Technical Analysis:
Previous 2x Falling wedges resulted in a price rebound within the trend channel and this 3rd falling wedge should not be any different.
Long term, GOLD is also on an uptrend, i see very little downside.
With Fed continuing to print money, inflation is no longer transitory.
Without a clear timeline for taper, gold will present opportunities for hedge.
Even if interest rates are raised, market turmoil should also be good for safe havens like gold
Technical Analysis:
Previous 2x Falling wedges resulted in a price rebound within the trend channel and this 3rd falling wedge should not be any different.
Long term, GOLD is also on an uptrend, i see very little downside.
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