Just like many of the other commodities, Newmont mining looks overextended and is starting to turn over.
Because of how quickly it ran, I think we're likely to see a violent snap back in price back to the February lows.
I can see price going to the $60 range before continuing up and/or retesting these highs as resistance.
First double bottom scenario price broke out very well
Right now we are approaching a break out as a result of a massive double bottom
Rocket emojis are appropriate
Newmont has been following our primary scenario and has as good as reached the ideal destination for wave ii in magenta near the lower third of the magenta zone between $69.49 and $56.42. Thus, it should soon turn around and move upwards. However, there remains a 40% chance that Newmont could drop through the magenta zone and below the support line at $52.60,...
NEM has retraced 25% from its recent highs but now is looking to breakout for another push higher. It has found nice support within the VPVR value area around that 63 level. Tight action within this falling wedge, bullish reversal pattern. Preferably I would like to see a breakout to test that 75 area before ER. My thoughts on ER is it wont be a catalysts for any...
Newmont corp absolute ripper breaking above '87 highs
Blue skies , all time highs gotta buy
Flow supports, like the 4/29 87 calls that swept or you can buy more time (never a bad idea) with 90 being the first price target , I also opened a JUN 85/90 spread for about 1.8
Will definitely hold the JUN , will play the shorter OPEX day by day, hopefully take...
- solid 3-month rectangle pattern at basement level 53-59 during September-December 2021
- notice 12/16/2021 NEM got a upside momemtum to 59 level that was the entry point
- there were few pullbacks to test 59 as the support in January 2022 but it bounced up quickly
- Rally occurred for NEWM during February-March when Russia-Ukraine war started
- It is a...
The PEAD projected a Neutral outlook for $NEM after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 80%.
NEwmont looking strong
daily chart is breaking out.
made all time new highs
Gold price is also holding strong.
$USD is collapsing
US 10Y bond yield will not be allowed to rise.
Barrick still not moving as strongly.
If miners are going higher NEM is the lead horse. Strong day today after the bull flag setup we are seeing a cup forming which may include a handle or not. Indicators still looking good Mortimer!
NEM looks like it may be ready to breakout. MACD crossover and RSI turning up. Flag breakout looks to be holding. Watching and waiting for confirmation.
while on ST it;'s a nice bullish wedge, it's made teh MM form teh ih&S and theers' a R ine and I expect $gold to pullback this week... so might take som Ps.
