13Feb

ASX:NEM - Newmont Corporation Elliott Wave Analysis, Trading Strategies & ASX Market Trends for Long-Term Investors

ASX: NEWMONT CORPORATION - NEM Elliott Wave Technical Analysis

Greetings,

This Elliott Wave analysis provides a fresh outlook on the Australian Stock Exchange (ASX) Newmont Corporation (ASX: NEM) with a technical approach for traders and investors.

Our analysis indicates that ASX :NEM has strong long-term bullish potential, currently unfolding within the third wave of the third wave. This report highlights key price levels and optimal trading setups using a data-driven, visually guided approach to confirm market trends.


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

Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave 1 - grey of Wave (3) - orange

Details:

  • Wave (2) - orange likely completed at 58.92, signaling the potential start of Wave (3) - orange, which is expected to push higher.
  • The structure suggests an Extended Wave, where Wave 1 - grey is nearing completion before a minor rally.
  • Upon completion of Wave 1 - grey, Wave 2 - grey is anticipated, setting up a potential long trade opportunity.

 Invalidation Point: 58.92

newmont-corporation-...


ASX: NEWMONT CORPORATION - NEM 4-Hour Chart Analysis

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave ((v)) - navy of Wave 1 - grey

Details:

  • From the 58.92 low, Wave 1 - grey is nearing completion, displaying a five-wave structure from Wave ((ii)) - navy to Wave ((v)) - navy.
  • The next anticipated move is a corrective decline into Wave 2, providing traders a chance to wait for a breakout above Wave ((b)) - navy of Wave 2 - grey before considering a long trade setup.

 Invalidation Point: 58.92
 Key Level: End of Wave ((b)) - navy

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: COMMONWEALTH BANK OF AUSTRALIA - CBA Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

newmont-corporation-...


Conclusion

This Elliott Wave analysis offers a structured trading forecast for ASX: Newmont Corporation (NEM), providing a clear technical roadmap to navigate current market conditions. By identifying critical validation and invalidation levels, we aim to enhance confidence in trend projections and market positioning.

Our objective, data-backed approach ensures traders receive insights into the market context and high-probability trading opportunities.

Related

KOSPI Composite Index Elliott Wave Analysis: Detailed Daily and Weekly Insights into Bullish Trends, Market Predictions

KOSPI Composite Index Elliott Wave Analysis: Detailed Daily and Weekly Insights into Bullish Trends, Market Predictions

KOSPI Composite Index Elliott Wave Analysis, highlighting bullish trends on daily and weekly charts....

Read More >
Bovespa Index Elliott Wave Analysis: Daily and Weekly Technical Forecast with Bullish Trend, Impulsive Waves, and Market Outlook

Bovespa Index Elliott Wave Analysis: Daily and Weekly Technical Forecast with Bullish Trend, Impulsive Waves, and Market Outlook

Elliott Wave analysis of the Bovespa Index, covering both daily and weekly charts. It explains the c...

Read More >
Understand Bitcoin market trends: Bitcoin Crypto Price News Today BTCUSD Elliott Wave Technical Analysis

Understand Bitcoin market trends: Bitcoin Crypto Price News Today BTCUSD Elliott Wave Technical Analysis

Unlock the potential of Bitcoin trading with our in-depth Elliott Wave analysis. This guide provides...

Read More >
Elliott Wave Analysis: S&P 500, NASDAQ 100, DAX 40, FTSE 100 & ASX 200 – Key Market Trends & Trade Setups

Elliott Wave Analysis: S&P 500, NASDAQ 100, DAX 40, FTSE 100 & ASX 200 – Key Market Trends & Trade Setups

Elliott Wave Market Outlook & Trading Strategy The S&P 500 (SPX) and NASDAQ 100 (NDX) are in an A-B...

Read More >
WTI Crude Oil Commodity Elliott wave Technical analysis: Current Trends and Future Expectations

WTI Crude Oil Commodity Elliott wave Technical analysis: Current Trends and Future Expectations

This article provides an in-depth analysis of WTI using Elliott Wave Theory, focusing on the current...

Read More >
Commodities & Futures Market Analysis: Elliott Wave Insights & Strategies

Commodities & Futures Market Analysis: Elliott Wave Insights & Strategies

The Commodities Market Trading Report provides a technical analysis using Elliott Wave, trading leve...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on