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ASX: NEWMONT CORPORATION - NEM Elliott Wave Technical Analysis
 

Today’s Elliott Wave analysis focuses on the Australian Stock Exchange’s listing of Newmont Corporation (ASX: NEM). We observe the stock advancing in a strong third wave. This technical forecast outlines key targets and identifies invalidation points that signal either the continuation or end of the current bullish trend.

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 concluded at 74.25 after a classic zigzag (a-b-c, grey). Following that low, wave iii) (orange) began an upward movement, aiming for a projected target of approximately 100.00.

• Invalidation Point: 74.25

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

TradingLounge Short-Term Forecast

This section reinforces the 1D analysis. The 4-hour chart shows consistency with the daily chart as wave iii) (orange) continues upward. Our immediate focus is the short-term movement of wave iii (grey) targeting 90.00, before it moves toward the longer-term 100.00.

• Function: Major trend (Minor degree, grey)
• Mode: Motive
• Structure: Impulse
• Position: Wave iii) orange of Wave ((iii)) navy of Wave 3 grey
• Invalidation Point: 74.25

Conclusion
 

This technical outlook for ASX: NEWMONT CORPORATION (NEM) provides insights into the current price action and strategic entry/exit levels. Key validation points help confirm wave progression, boosting analysis confidence. By delivering objective wave-based forecasts, our goal is to help traders recognize opportunities aligned with larger trend patterns.

• Analyst: Hua (Shane) Cuong, Certified Elliott Wave Analyst - Master (CEWA-M)
• Source: TradingLounge.com

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