The Hourly View for NEM
- At the time of this writing, XEM’s price is up $0 (0.64%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move down.
- Regarding the trend, note that the strongest trend exists on the 50 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.
The Daily View for NEM
- Currently, XEM’s price is up $0 (3.53%) from the day prior.
- This is the 3rd day in a row NEM has seen its price head up.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
- Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them with price now being above it. 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.
Below is a daily price chart of NEM.
Featured NEM Idea From TradingView
Below is a trading comment entitled Oil futures return to pre-war levels you may find interesting:
EUR/USD 🔼GBP/USD 🔼 AUD/USD 🔼USD/CAD 🔼 XAU 🔼WTI 🔽 Months of almost unstoppable oil bulls have returned to the starting line, and both Brent and WTI oil futures prices have returned to levels not seen since the Russian invasion of Ukraine, with WTI oil futures closing at $88.54 a barrel. Recession fears have weakened manufacturing data, and as the US summer driving season will end by September, lackluster global oil demand sends prices downward.The loonie was dragged by the falling oil prices, USD/CAD got to 1.2864 and kept climbing, currently tradi…