Chart of the Day: Newmont (NEM)

Newmont (NEM) has pulled back from recent highs as mining and metals-related companies surged alongside rising gold prices. Kevin Horner examines the technical trends building in NEM pointing to the $82 level as a volume point of control and recent support level for shares. On a 1-year chart, he highlights the $80-$82 zone as confluence of its 50-day moving average and a longer term ledge of support for Newmont.

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