BARRICK GOLD 3-YEAR CYCLE: The 3-year cycle in Barrick Gold (GOLD) seems to set critical turning points every third September. With prices steadily declining for the past 12-months, the odds support a potential bottom brewing in the following days. Perhaps Wednesday’s Fed decision will force a low (possible spike low). From a technical target: closing below $18.00 would be harmful and support a drop back towards the rising 6-year trendline, currently crossing through $16.00.

Longer-term, our work supports a new bull market in precious metals lasting throughout the 2020s. A breakout above the $30.00 level in Barrick Gold would endorse this view and support the next leg higher in precious metals.

Note- A September 2021 bottom in Barrick Gold implies a bottom across the entire precious metals and mining complex.