Navigation

Nickel Breakout


As can be seen from the chart, nickel formed a sharp pullback. It was a channelised pullback. However, the price faced a selling pressure near the daily upper Bollinger Band. Consequently, the price broke on the downside from the channel. In terms of the price pattern, nickel has formed a distribution triangle and has broken out on the downside. The targets on the downside will be 917 and 902, ie 50% and 61.8% retracement mark respectively. The reversal can be trailed to the 20-daily moving average (952.60).
Share

Shubhlaxmi

Shubhlaxmi Commodity is a Free portal where you are provided all market such as Commodity stocks futures and Currency Like USD To INR and internatinol live market prices and live charts and Free support and resistance level

Post A Comment: