Technical Forecast for Nickel
Nickel gave the 3 year trend line support at 15128 another prod & just held on. The reversal day offers some hope to bulls now & there are signs of a recovery in to the end of the week. If we hold on to this trend line we can start to build a recovery after 2 month of losses. This is our last hope for a bounce. A break lower however would then target 14120.
First target today is 15387 then 15570/622 above. We should struggle here & could top out for the day but above 15718 could see 15866 then 15950/960. Exit all longs here & try shorts with a stop above 16100.
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