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NEM to go down
Newmont Corporation
Short
NEM to go down
By TheInvestingAcademy
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Apr 5
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Cheer
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Apr 5
Gold has been doing well. Newmont Mining (NEM) being one of the gold miners has seen a decent rally too.
NEM is overbought on the daily with a RSI over 70.
As we can see, we approached a diagonal downsloping trend line. There has been multiple hits on this trend line.
I expect NEM to pullback from here in the short term to about 28 dollars which would then be a buy opportunity again.
(I do not do any short trades, only longs)
Chart Patterns
Technical Indicators
Trend Analysis
TheInvestingAcademy
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