Here's an update for NEM on a more short term outlook from my previous chart. I had previously posted a chart which was projecting a massive cup & handle which could take another couple of months to resolve before the big break out. In this chart, I'm looking at the short term future of the next week or two which I believe is overall bullish.
Slight pull pack today so far which has bounced up again. Here I've plotted some a couple of triangles which represent the long term trend as well as a sharp uptrend for the past week. EMA have crossed over bullish and had you bought on the crossover, you would have caught a nice upswing. MACD crossed over a week before. With the EMA crossover plus price action breaking above both EMAs, we had a triple confirm for buy at a really nice entry point. EMA are now acting as support and are riding along the trend line nicely. Some resistance zones to note which should stall the uptrend here and there. Regardless, I believe NEM is still a good buy for short or long term.
More details on why I am holding long term are on my previous chart.
Good luck!
Slight pull pack today so far which has bounced up again. Here I've plotted some a couple of triangles which represent the long term trend as well as a sharp uptrend for the past week. EMA have crossed over bullish and had you bought on the crossover, you would have caught a nice upswing. MACD crossed over a week before. With the EMA crossover plus price action breaking above both EMAs, we had a triple confirm for buy at a really nice entry point. EMA are now acting as support and are riding along the trend line nicely. Some resistance zones to note which should stall the uptrend here and there. Regardless, I believe NEM is still a good buy for short or long term.
More details on why I am holding long term are on my previous chart.
Good luck!
Transaction en cours:
Hello all,
apologies, i've screwed up and hit short when it should be long. Misunderstood what I was doing.
apologies, i've screwed up and hit short when it should be long. Misunderstood what I was doing.