What triggered Barrick Gold shares' latest price pullback

Traders Union
All News
Financial News
Barrick gold slides 4.31% today

All news

Editors' Picks

Crypto News

Financial News

Market Voices

Billionaires

Companies

Broker News

Regulators News

Parshwa Turakhiya

01.06.2026

What triggered Barrick Gold shares' latest price pullback — Barrick gold slides 4.31% today

Barrick Gold Corporation (ABX) is trading at C$56.36, down 4.31% for the day. The price sits below the 20-day (C$57.41) and 50-day (C$56.54) moving averages, but remains above the 200-day (C$54.63), signaling near-term pressure with underlying long-term support.

ABX price prediction

24H 1.26%

CA$ 60.2

48H 1.78%

CA$ 60.51

7D 1.73%

CA$ 60.48

1M 7.06%

CA$ 63.65

3M 13.42%

CA$ 67.43

6M 78.77%

CA$ 106.28

12M 103.03%

CA$ 120.7

Detailed

Current price: CA$ 59.45 1.24 2.13%

Closed 06/04

Daily range 58.74

60.38

Weekly range 56.28

59.78

Highlights

Barrick Gold faces near-term pressure, trading below key short-term averages but remains above long-term support at C$54.63.
Technical indicators are mixed, with weak trend momentum and neutral sentiment, but buyers dominate and point to possible reversal risk.
Over the next week, a sideways trading range around C$56.36 is likely, with high probability of upward movement if resistance at C$58.53 is breached.

Anton Kharitonov, expert at Traders Union, sees Barrick Gold facing clear technical headwinds after a notable daily drop. He notes the lack of supportive news flow, which may undermine sentiment further. The price failing to hold above the short-term moving averages signals weak momentum for buyers. Kharitonov pays close attention to the gap-down open and the risk of deeper declines below C$54.63. "Current levels warrant caution, as any further drop could invite a broader retracement for ABX," he warns.

Viktoras Karapetjanc, expert at Traders Union, believes Barrick Gold’s bullish setup remains firmly in place despite recent weakness. He sees the stock’s long-term support at C$54.63 as a strong base for continued upward movement. Karapetjanc points to all major weekly indicators pointing higher, suggesting robust potential for a rally. "The market structure favors buyers — I expect further growth if C$58.53 is cleared," he states confidently.

Parshwa Turakhiya, analyst, highlights the mixed short-term signals for ABX. He observes the price hovering near intraday lows with multiple oscillators in neutral or oversold territory. He notes that the consolidation phase could present quick trading opportunities if momentum reverses. "If buyers quickly reclaim C$57.41, we could see a short-term sentiment-driven rebound," says Turakhiya.

Technical resistance looms as mixed signals temper bullish backdrop

The nearest dynamic resistance is at the Ichimoku Kijun level (C$58.53), with medium-term support positioned at C$54.63. Momentum signals are mixed: MACD shows a mild bullish bias, while the ADX indicates weak trend strength. RSI sits in neutral territory, the Stochastic RSI suggests possible oversold pockets, and CCI is neutral. Bull/Bear Power (BBP) implies buyers dominate overall, though the risk of reversal is heightened amid the recent overbought signal. The stock gapped lower at the open by about C$1.40 and is trading near the intraday low, reflecting heavy pressure with no notable volatility and a cautious tone amid a generally bullish technical backdrop.

Earlier, analysts noted that Barrick Gold was exhibiting strong bullish momentum supported by positive technical alignment. The current pullback introduces a more cautious tone but, with the trend now consolidating above long-term support, a decisive break above C$58.53 should be watched as the next signal for renewed upside momentum.

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

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.