ASX: NEWMONT CORPORATION – NEM
Elliott Wave Technical Analysis – TradingLounge (1D Chart)

Greetings,
Today's Elliott Wave update covers NEWMONT CORPORATION – NEM on the Australian Stock Exchange (ASX). The analysis suggests a continued upward trend as Wave iii) – orange progresses within Wave iii)) – navy of Wave 3 – grey. We provide projected price targets and invalidation levels to help determine when this bullish trend may end.

Technical Analysis – 1D Chart (Semilog Scale)

• 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 completed as a zigzag (a,b,c – grey) at the 74.25 low. From this point, Wave iii) – orange continues to move upward, with a projected target around 100.00.

• Invalidation Point: 74.25 

ASX: NEWMONT CORPORATION – NEM
Elliott Wave Technical Analysis – TradingLounge (4-Hour Chart)

This 4-hour update confirms the continuation of the uptrend noted in the 1D chart. The structure and forecast remain intact.

Technical Analysis – 4-Hour Chart

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

Details:
As in the daily analysis, Wave iii) – orange maintains its upward direction. In the short term, Wave iii – grey appears to be pushing towards a closer target of 90.00, with the larger goal still at 100.00.

• Invalidation Point: 74.25 

Conclusion
This analysis offers a clear projection of the medium and short-term movement for ASX:NEM, identifying both key resistance levels and invalidation points to monitor. These insights are designed to support traders with a structured approach to capturing opportunities in the current trend.

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

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