Barrick Gold

Gold’s strong uptrend has taken a parabolic shape. Price has climbed from $1,500 levels to $1,900 in the past few months. Gold is well above its 2008 high levels. What about gold stocks? Barrick Gold is one of the gold stock that is now testing its 2008 high level at 55. It has definitely lagged the Gold cash price performance but a breakout above 55 levels could push Barrick Gold higher with strong momentum. Horizontal resistance at 55 and upward sloping trend line forming support at 45 gives barrick gold a bullish outlook.