NEM Elliott Wave technical forecast [Video]

NEM Elliott Wave technical analysis

Today's Elliott Wave update covers NEWMONT CORPORATION – NEM on the Australian Stock Exchange (ASX). The analysis suggests a continued upward trend as Wave iii) – orange progresses within Wave iii)) – navy of Wave 3 – grey. We provide projected price targets and invalidation levels to help determine when this bullish trend may end.

• Function: Major Trend (Minor degree, grey).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave iii) – orange of Wave iii)) – navy of Wave 3 – grey.

Details:

Wave ii) – orange likely completed as a zigzag (a,b,c – grey) at the 74.25 low. From this point, Wave iii) – orange continues to move upward, with a projected target around 100.00.

• Invalidation point: 74.25.

NEM Elliott Wave technical analysis

This 4-hour update confirms the continuation of the uptrend noted in the 1D chart. The structure and forecast remain intact.

• Function: Major Trend (Minor degree, grey).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave iii) – orange of Wave ((iii)) – navy of Wave 3 – grey.

Details:

As in the daily analysis, Wave iii) – orange maintains its upward direction. In the short term, Wave iii – grey appears to be pushing towards a closer target of 90.00, with the larger goal still at 100.00.

• Invalidation point: 74.25.

Conclusion

This analysis offers a clear projection of the medium and short-term movement for ASX:NEM, identifying both key resistance levels and invalidation points to monitor. These insights are designed to support traders with a structured approach to capturing opportunities in the current trend.

NEM Elliott Wave technical analysis [Video]