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Weekly forecast NEM technical chart
Symbol XEMUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.11 to 0.09). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.11)
    • Resistance on 06/22/2021
    • Support on 06/24/2021
    • Resistance on 06/26/2021
    • Support on 06/28/2021
    • Support on 06/29/2021
    • Support on 07/09/2021
    • Support on 07/13/2021
    • Support on 07/14/2021
    • Support on 07/15/2021
    • Trough on 07/20/2021
    • Support on 07/20/2021
  • Ending of entry zone (0.09)
    • Support on 06/22/2021

DateJuly 23, 2021 - 13:26
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.08500, beginning of uptrend is expected.
  • We make sure when the resistance at 0.30700 breaks.
  • If the support at 0.08500 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 0.11 on 07/20/2021, so more gains to resistance(s) 0.14, 0.17, 0.22 and maximum to Major Resistance (0.31) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 53.

Take Profits:

  1. 0.17
  2. 0.22
  3. 0.25
  4. 0.31
  5. 0.36
  6. 0.42
  7. 0.53
  8. 0.70
  9. 0.87
Click on the level to view price action history.

Symbol Released Current Forecast
NEM (XEMUSD) Sun, 17 Mar 2024
NEM (XEMUSD) Sun, 10 Mar 2024
NEM (XEMUSD) Sun, 3 Mar 2024
NEM (XEMUSD) Sat, 24 Feb 2024
NEM (XEMUSD) Tue, 20 Feb 2024