-7.48% for Barrick Gold stock as long-term support holds above $47.76

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Barrick Gold drops 7.48% to $51.30

Highlights

ABX remains under sustained selling pressure, trading well below key short- and medium-term moving averages but above its long-term support.
Momentum and trend indicators signal a strong bearish trend with oversold conditions and little sign of a reversal.
ABX is expected to remain in a narrow $50.50–$53.50 range, with a break below $50.50 likely triggering further downside.

Bearish momentum and oversold signals as technical barriers cap ABX

The technical outlook for ABX remains negative. The Ichimoku Kijun level at $62.55 is immediate resistance. Daily momentum indicators confirm a bearish trend, with the MACD and ADX both signaling a sell. Oscillators are in deeply oversold territory: the RSI is at 29.98, Stoch RSI is at 0.00, and CCI stands at -156.28, all pointing to short-term selling exhaustion but not yet a reversal. The BBP remains deeply negative, and the Awesome Oscillator supports continued downside. The session featured a notable gap down from a previous close of $55.45 and consistent selling pressure drove the price close to the day’s low of $50.24, aligning with the negative signals on all technical fronts.

Sideways bias dominates as rebound odds remain limited for ABX

For the coming five trading days, ABX is expected to fluctuate within a $50.50 – $53.50 volatility band relative to current levels. The likelihood of a short-term price increase is low (under 20%), as only weekly MACD and ADX provide minimal support for a rebound while most other indicators point to further downside. The base scenario anticipates a sideways pattern between $50.50 and $53.50. A move above $53.50 would be needed for a short-term rebound, while a break below $50.50 could trigger a deeper decline with technical indicators remaining bearish in the short term.

Anton Kharitonov, expert at Traders Union, sees Barrick Gold Corporation under heavy technical pressure with no supportive news flow. He believes the bearish momentum is dominating, as indicators remain deeply negative and price action struggles above key longer-term support. The base scenario is for more sideways movement, with any rebound capped unless $53.50 is reclaimed. "I remain cautious — until ABX recaptures $53.50, downside risks stay elevated in the short term."

Earlier, analysts noted that Barrick Gold was facing persistent selling momentum despite generally supportive underlying market conditions. The current technical outlook not only reinforces this bearish trend but, given the deepening oversold signals, highlights $50.50 as a critical support level that could define near-term risk for traders.

Source of Data: ABX Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.