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Will Barrick Gold Corporation Break Out?


Barrick Gold Corporation (ABX) is on the verge of breaking out of a mini, 3-week accumulation pattern, and has been since late Jan, which itself is sitting atop a much larger accumulation pattern that originated in early Nov 2013.

A sustained breakout above 19.95 will trigger the upside potential off of the smaller pattern to an optimal target of 20.85, and then to 21.7090 to satisfy the upside potential of the larger pattern.

At this juncture, only a decline that breaks 18.80 will put the timing of the anticipated upside acceleration into a question.

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