Barrick Gold

Barrick's purchase of Equinox has taken some shine off the world's largest gold producer. It is trading down to support of $46 as indicated by the blue line at the bottom. With gold well above $1500/oz will Barrick stay in the doldrums for long? Look for a move off the $46 support level to initiate a position, watch for the relative strength and MACD to turn upwards. If $46 is meaningfully broken look for support at the $44 level just above the 200 day moving average.