Newmont’s Price Structure
The daily Elliott Wave chart for NEM indicates a structured price movement. After wave II corrected to $29.03, the stock has entered wave III, signalling renewed growth. From this low, wave (1) rose to $58.72, with wave (2) falling back to $36.86. Wave (3) is developing, nearing completion, with a wave (4) pause anticipated before further gains. Maintaining support above $29.03 keeps prospects strong for further advancement in wave III.
Based on this outlook, Newmont Mining appears to be in a strong, long-term upward trend that is gaining momentum. We saw gold prices rally significantly in the latter half of 2025, with gold futures climbing over 15% as the market began pricing in potential Federal Reserve rate cuts for this year. This macro environment provides a strong tailwind for the stock’s bullish structure.
Opportunity For Derivative Traders
For derivative traders, the analysis suggests an approaching opportunity after a period of consolidation. With wave (3) nearing completion, a short-term pullback for wave (4) is expected, which could be an ideal entry point for establishing long positions. One strategy would be to buy call options with expiries several months out, such as for June or September 2026, to capitalize on the subsequent upward move.
The most critical support level to monitor is the wave II low at $29.03, as a break below this would invalidate the current bullish count. We saw strong support form around the $36.86 level during the pullback in 2025, which could serve as a potential floor for the expected consolidation. Any dip towards this zone in the coming weeks could represent a favorable risk-reward opportunity for bullish traders.
This technical view is supported by fundamental developments we observed in late 2025, including Newmont’s improved production figures following the successful integration of its Newcrest acquisition. Furthermore, reports from the World Gold Council confirmed that central banks continued to be net buyers of gold through Q4 2025, adding to the demand-side support. These factors reinforce the potential for another significant rally once the anticipated short-term correction is complete.
