NEM Elliott Wave technical analysis suggests that the Australian Stock Exchange (ASX) is likely to see NEWMONT CORPORATION – NEM continue to push higher. The analysis looks at the 1D chart on a semilog scale, indicating a major trend in an impulse structure, with wave iii-grey unfolding to possibly reach 90.00 before a pullback with wave iv-grey and then another push higher with wave v-grey. The invalidation point is set at 81.18.
Moving on to the four-hour chart analysis, the major trend is still in the upward direction, with wave iii-grey unfolding to push higher from the low at 76.91. The target could be around 90.00, followed by a pullback with wave iv-grey, and finally, wave v-grey will continue the upward movement. The invalidation point for this chart is also at 81.18.
In conclusion, the analysis and forecast aim to provide insights into the current market trends and how to effectively capitalize on them. By offering specific price points that act as validation or invalidation signals for the wave count, the analysis enhances confidence in the perspective provided. The goal is to present readers with an objective and professional perspective on market trends, helping them make informed decisions. Additionally, a video forecast is available for those looking for a more visual representation of the Elliott Wave technical analysis for Newmont Corporation.
