ASX: NEWMONT CORPORATION - NEM

Elliott Wave Technical Analysis | TradingLounge

Hello traders,
Today’s Elliott Wave analysis focuses on NEWMONT CORPORATION – NEM, listed on the ASX.

Our forecast identifies that ASX:NEM is trending upward within wave three. This detailed breakdown highlights critical targets and an invalidation level, helping you recognize when the current trend may reverse or continue holding bullish momentum.

ASX: NEWMONT CORPORATION - NEM

Elliott Wave 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 appears to have ended at the 74.25 low, forming a zigzag a-b-c pattern (grey). From that point, wave iii) - orange is advancing, with an upside target projected near 100.00.

• Invalidation point: 74.25

ASX: NEWMONT CORPORATION - NEM

Elliott Wave Technical Analysis | TradingLounge (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:
The short-term chart confirms the continuation of the bullish pattern shown in the daily chart. Wave iii) - orange is targeting the 100.00 mark, with an interim objective near 90.00 as wave iii - grey progresses higher.

• Invalidation point: 74.25

Conclusion:

This analysis of NEWMONT CORPORATION – NEM on the ASX offers a detailed outlook on current and short-term market behavior. Using Elliott Wave principles, we present clear price levels to validate or invalidate the current wave count, helping improve strategic confidence. Our aim is to deliver a neutral, data-driven interpretation of the market trend.

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

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