ABX: worth keeping an eye on this week with USD data.

July 29, 2014

Tue 29th July

It’s a big week ​for the USD this week with FOMC and NFP but, for now at least, Gold is holding it above the $1,300 level.

Gold4hr

Any hold above this level, post FOMC and NFP, might help to support continuation there. Then, if so, ABX will be well worth watching.

ABX is holding above $15 support and seems to have carved out a possible ‘triple bottom’:

ABXweekly

It is also approaching a weekly bear trend line that dates back to September 2011.

Any bullish break up and out from
this trend line would suggest a possible inflection point for the stock and, perhaps, a trend reversal.

One to watch after this week for sure!