ABX Takes Out Prior High

Gold and Silver prices are circling unchanged today, but the precious metals miners are acting well. Barrick Gold Corp. (NYSE: ABX) just took out its prior high at 48.42 from Jan 28, and although there is no upside follow-through just yet, my near-term pattern work and momentum oscillators point to 50.50-51.00 next.

At this juncture, only a sudden plunge that breaks below the rising 200 DMA, now at 46.20, will begin to meaningfully compromise my bullish near-term outlook for ABX.