NEM Newmont Mining Daily Chart Potential H&S

The rising red wedge and negative divergence red lines spanked price south from the early November top. The MACD histogram, stochastics and money flow (red circles), however, are all agreeable to seeing further price buoyancy, which is occurring now. As price moves up watch the purple lines to gauge if negative divergence forms. The teal lines show an H&S pattern with the right shoulder now forming. A 72 head and 62 neckline targets the 52 level. The price action is strong over the last couple days since price is above the 20 MA above the 50 MA above the 200 MA. Projection is to exit longs or initiate shorts between 69 and 72. Lower prices are expected 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 financial advisor before making any investment decision.