Newmont breaks flag resistance, but lags gold

After retracing around 62% of the prior advance, Newmont Mining (NEM) broke above flag resistance with a surge over the last few days. The breakout was under threat with Wednesday's pullback, but Thursday's surge keeps the flag breakout in play. There is one concern. NEM remains well below its Sep-Oct highs, but gold is challenging its October highs. NEM is lagging gold.

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