Newmont Mining Corp

For today's chart we've chosen to take a look at NEM because it created a new 52-week low and was pushed below an important level of support. As you can see from the chart below, the bears were able to push the price of NEM below a six-year trendline - a level that was able to prop up the price of NEM shares eight times over the past few years. We'd expect to see the former support become an area of resistance when the bulls respond and try to push the price higher again. The question on the minds of many traders now becomes: Is this breakdown the beginning of a long-term downtrend?