ASX: NEWMONT CORPORATION - NEM

Elliott Wave Technical Analysis

Greetings, our latest Elliott Wave analysis focuses on NEWMONT CORPORATION - NEM listed on the Australian Stock Exchange (ASX). We currently see ASX:NEM advancing in a third wave. This report outlines specific target levels and the invalidation point, helping readers understand when the trend may shift or confirm a continued bullish scenario.

ASX: NEWMONT CORPORATION - NEM

Elliott Wave Technical Analysis
ASX: NEWMONT CORPORATION - NEM
1D Chart (Semilog Scale) Analysis

• Function: Major trend (Minor degree, grey)
• Mode: Motive
• Structure: Impulse
• Position: Wave iii) - orange of Wave iii)) - navy of Wave 3 - grey
• Details:
  Wave ii) - orange likely ended at the 74.25 low as a zigzag correction labeled a,b,c - grey. From that low, wave iii) - orange is progressing upwards, with a target near 100.00.
• Invalidation Point: 74.25

ASX: NEWMONT CORPORATION - NEM

4-Hour Chart Analysis

• Function: Major trend (Minor degree, grey)
• Mode: Motive
• Structure: Impulse
• Position: Wave iii) - orange of Wave ((iii)) - navy of Wave 3 - grey
• Details:
  The analysis remains consistent with the 1D chart. Wave iii) - orange continues higher, targeting 100.00. In the short term, wave iii - grey is pushing upward, aiming for a near-term goal of 90.00.
• Invalidation Point: 74.25

Conclusion:

This analysis delivers a contextual and short-term outlook on ASX: NEWMONT CORPORATION - NEM. By defining specific price validation and invalidation levels, it empowers traders with actionable data. Our method combines technical clarity with professional objectivity, aimed at maximizing trading effectiveness.

Technical Analyst: Hua (Shane) Cuong, Certified Elliott Wave Analyst - Master (CEWA-M)

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