NEM weekly chart shows the rising red wedge and negative divergence causing the 2010 spank down. Note that money flow, however, remained positively sloped. Money flow wanted to see another price high. That occurred in 2011. Then the rising blue wedge, overbot conditions and negative divergence spanked price down a couple weeks ago. The MACD line (green line) wants to see some further price buoyancy and that is happening now. The 20 week MA above the 50 MA is bullish as well as the RSI above 50%. The chart appears to be making a significant top, however, as shown by the black circle. The negative divergence should remain in place so lower prices are expected for the weeks and months ahead. 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.
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