Newmont Corporation – NEM analysis and Elliott Wave technical forecast [Video]

Finance

Newmont Corporation – NEM analysis and Elliott Wave technical forecast [Video]

Todays Elliott Wave analysis covers the Australian Stock Exchange listing NEWMONT CORPORATION – NEM. We observe ASX:NEM moving higher as part of wave three. This report outlines target zones and invalidation levels, helping traders understand when the bullish trend remains valid and when to reassess.

One-day chart (semilog scale)

• Function: Major trend (Minor degree, grey).
• Mode: Motive.
• Structure: Impulse.
• Position: Wave c – grey of Wave ii) – orange of Wave iii) – navy of Wave 3 – grey.

Details:

Wave ii) – orange was previously expected to conclude last week, but it has extended, forming a clearer zigzag labeled a, b, c – grey. We now anticipate this decline to reach near 75.37, completing wave ii) – orange. From there, wave iii) – orange should begin its ascent. A break above 85.21 would support the bullish case.

Invalidation point: 68.11.

Four-hour chart analysis

• Function: Major trend (Minor degree, grey).
• Mode: Motive.
• Structure: Impulse.
• Position: Wave ii) – orange of Wave ((iii)) – navy of Wave 3 – grey.

Details:

The 4-hour chart mirrors the daily chart closely. The bullish confirmation remains a clear break above 85.21, while the invalidation level is held at 68.11. These levels are crucial for validating the Elliott Wave count.

Invalidation Point: 68.11.

Confirmation Point: 85.21.

Conclusion:

Our analysis of ASX: NEWMONT CORPORATION – NEM highlights both the broader trend and short-term scenarios using Elliott Wave principles. The clearly defined price levels act as markers for confirming or invalidating the current wave count. This structured approach enhances confidence in identifying high-probability opportunities.