Navigation

19 Aug 2015 Technical Chart Nickel Rolling down

The adjacent chart shows price movement of MCX nickel continuous contract. The base metal has been trading in a multi-month falling channel. Recently, it found support near the lower end of a medium-term falling channel and formed a pullback. However, it faced resistance near the key daily moving averages (DMAs). Thus, the base metal has started falling once again. Any minor degree bounce is being caped by the 20-DMA. Hence, unless 20-DMA, ie Rs702, is crossed nickel can fall towards the channel line, which is near Rs.650 and the monthly lower Bollinger band, which is near Rs.646.
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: