NEM Daily H&S Downward Channel

NEM daily chart; this ticker a highly popular gold play and proxy. The trend change came in early October, from then to now you can see the lower highs and lower lows. NEM would need to attain 64 plus to shake that trend. The pink positive divergence bounced it a bit over the last couple weeks. The current fight for S/R is at the thin green line at 58.5-59.0. The back half of last week saw a spank down from this 58.5-59.0 resistance. The green bars showing the H&S are in play now so this requires close watching, a breakdown thru 54.5-ish neckline will usher in a target of 43-44. NEM looks sideways to sideways down moving forward. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.