LME Nickel: Lower Range Can Be For Accumulation
Nickel LME- (Price figures in $/Ton)
Exit long on rise to 8397-8462 as the opportunity arises.
Expect lower range of 8332-8267 to be tested.
Breakout and close above 9555 can resume the near term rally.
Lower levels of 8280 or below can be for accumulation.
Weekly Level for LME Nickel
STRATEGY
|
CLOSE
|
DRV
|
TREND
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Lower range
Accumulation
|
8375.0
|
9057.8
|
DOWN
|
8960
|
6.05
|
8267
|
8332
|
8353
|
8397
|
8462
|
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.