Traders are watching this Rectangle on NEM. Inspect the chart now.
Sideways movement between parallel supports.
Bearish continuation pattern.
Traders are watching Newmont (NEM) as price action tightens. With a last close of $91.34, volatility remains active (-0.2%). The primary technical feature is a Descending Triangle formation. Volume is average (0.78x avg) with moderate trend strength (15.6). A potential breakout level is identified at $88.75, targeting $65.32 with support near $96.94 (R:R 2.86).
What is your outlook on NEM?