ASX: NEM – NEWMONT CORPORATION Elliott Wave Analysis
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This updated Elliott Wave analysis of Newmont Corporation (ASX:NEM) reviews the current wave structure based on the Australian Stock Exchange listing. Our latest evaluation indicates that ASX:NEM is moving through wave three of a larger trend. This report delivers precise price targets and a key invalidation level, essential for traders applying Elliott Wave principles to forecast market shifts.
Newmont Corporation (ASX:NEM) 1D Chart (Semilog Scale) – Technical Overview
Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Wave Position: Wave iii) - orange of Wave iii)) - navy of Wave 3 - grey
Key Observations:
- The low at 74.25 likely marks the end of wave ii) - orange, forming a completed zigzag correction (a, b, c - grey).
- From this pivot, wave iii) - orange is gaining upward momentum, with the primary upside target set at 100.00.
Critical Invalidation Level: 74.25
Newmont Corporation (ASX:NEM) 4-Hour Chart Analysis
Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Wave Position: Wave iii) - orange of Wave ((iii)) - navy of Wave 3 - grey
Technical Insights:
- The 4-hour time frame supports the upward wave continuation seen in the 1-day chart.
- Wave iii) - orange is in a sustained bullish phase, aiming for 100.00.
- On a shorter time horizon, wave iii - grey is also trending up, targeting a near-term level of 90.00.
Critical Invalidation Level: 74.25
Technical Analyst: Hua (Shane) Cuong, CEWA‑M (Certified Elliott Wave Analyst – Master Level)
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Conclusion
This Elliott Wave technical analysis for ASX: NEM provides actionable insights for traders and investors following Newmont Corporation. By outlining key validation and invalidation price levels, this analysis offers a structured view of potential trend developments.
The goal is to provide a reliable, transparent perspective for anyone leveraging an Elliott Wave trading strategy in today's market.