NEM has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, NEM began a wave one advance on January 5. The wave one finished on February 4, and the wave two correction ended on February 25. The wave three advance finished on May 19, and the wave four correction ended on May 27. If this wave count is correct, NEM should be heading next towards the May 19 peak in the wave five.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I believe NEM is currently in the wave three (sub-wave v).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "NEM will takeout the May 19 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "NEM will drop below the February 25 low".
If you think NEM is in a range, upvote this post and upvote the comment "NEM will stay in a trading range between the February 25 low and the May 19 peak until July 11".
You can upvote the comment until 3 PM EST June 12 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.