ABX Surged to Topside of the Trend, Potential Reversal

Barrick Gold Corporation surged in the last two week as gold rises amid a global stock market correction. Where the stock price high rocketed to see gains as high as 26%. Now price is trading at key resistance of the bearish channel. Look closely to the performance of gold for the direction of price.

Trade Step-ups:

Bearish Reversal: Price rejects a breakout from current trend. Profit levels to look for are 10.50 and 9.50.

Bullish Breakout: Price breaks from current trend channel, look for consolidation above 13.00.