NEM is Up for the 3rd Day in a Row

The Hourly View for NEM

  • At the time of this writing, XEM’s price is down $0 (-0.6%) from the hour prior.
  • The hourly chart shows that NEM has seen 2 straight down hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NEM’s hourly price chart is shown below.

XEM

The Daily View for NEM

  • At the moment, XEM’s price is up $0 (0.36%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as NEM has now gone up 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between XEM’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XEM’s price.

Below is a daily price chart of NEM.

XEM

Featured NEM Idea From TradingView

Below is a trading comment entitled AUDUSD Temporal Reversal. Technical Analysis. Swing Trade you may find interesting:

Good morning everyone, I am basing this trade on a few principles and I will state them below. 1) Transitional Turning Point: Prices don’t just reverse a trend without a transitional moment. This means it’s common to expect a ranging moment before a change in trend. 2) Channel Completion: The current market price action is a channel, we have created support below, the price touched it twice and failed to touch it this third time and is currently ret…

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