BATS:NEM   Newmont Corporation

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)

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.