Newmont Mining Corp Weekly (21/2014) Chart Technical Analysis
The Newmont Mining Corp (NEM) weekly chart shows the following signs:
The Price of NEM tries to make a bottom pattern for reversal but cut the Kinjun Sen down giving a bear signal when Barrick Gold’s Failed Merger Attempt With Newmont Mining. The MACD is reaching on bearish signal and the RSI is bearish too. The stock is under the KUMO Cloud. The only think that makes some doubts is the divergence on MACD.
I expect that the stock will continues the short movement that is depended of the XAUUSD movement . The first support is calculated at $22,52.
The Price of NEM tries to make a bottom pattern for reversal but cut the Kinjun Sen down giving a bear signal when Barrick Gold’s Failed Merger Attempt With Newmont Mining. The MACD is reaching on bearish signal and the RSI is bearish too. The stock is under the KUMO Cloud. The only think that makes some doubts is the divergence on MACD.
I expect that the stock will continues the short movement that is depended of the XAUUSD movement . The first support is calculated at $22,52.
