ASX: NEWMONT CORPORATION - NEM Elliott Wave Forecast & Technical Analysis TradingLounge
Hello Traders,
This Elliott Wave forecast for Newmont Corporation (ASX: NEM) analyzes the current trend using the daily chart. The ongoing price movement suggests a developing Wave Three advance. Below, we outline key Elliott Wave target zones and invalidation levels that traders can use to evaluate the sustainability of this bullish phase.
ASX: NEWMONT CORPORATION - NEM Elliott Wave Forecast & 1D Chart Analysis
NEWMONT CORPORATION 1D Chart (Semilog Scale) Overview
Function: Identifying the dominant trend (Minor degree, grey)
Wave Mode: Motive
Wave Structure: Impulse
Wave Position: Wave iii) - orange within Wave iii)) - navy under Wave 3 - grey
Wave Analysis:
Wave ii) - orange completed around 74.25, likely forming a zigzag correction. From that low, Wave iii) - orange has begun moving upward, currently targeting the 100.00 level.
Key Invalidation Level: 74.25
ASX: NEWMONT CORPORATION - NEM Elliott Wave Forecast TradingLounge (4-Hour Chart)
4-Hour Chart Technical Analysis Overview
Function: Tracking short- to mid-term trend (Minor degree, grey)
Wave Mode: Motive
Wave Structure: Impulse
Wave Position: Wave iii) - orange within Wave ((iii)) - navy of Wave 3 - grey
Short-Term Outlook:
The 4-hour chart confirms the daily Elliott Wave count. Wave iii) - orange is still progressing higher, with a near-term price objective at 90.00 and a mid-range goal set at 100.00.
Key Invalidation Level: 74.25
Technical Analyst: Hua (Shane) Cuong, CEWA‑M (Certified Elliott Wave Analyst – Master Level)
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Conclusion
This technical analysis for ASX: NEM (Newmont Corporation) combines long-term Elliott Wave trends with actionable short-term insights. Clear target and invalidation levels help validate the bullish scenario and support more confident decision-making for traders seeking a structured market approach.