Nickel Report

Technical outlook

Nickel July 4hr Chart has formed "Rising channel" pattern. The last session been in bullish trend after retesting near the channel’s support line. The market is expected to revise the trend to bullish based on the current price action, once the same breaks above a key resistance area holding near 974. The upside rally could be testing all the way up to 982-988 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might turn bearish/sideways mode. Key support holds at 950.

Technical outlook

Nickel July daily Chart has formed "Rising wedge" pattern. The last session been in bearish trend but retesting near the channel’s support line. The market is expected to revise the trend to bullish based on the current retesting price action, testing all the way up to 980 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 952, then the market might turn bearish/sideways mode. Key resistance holds at 980.

Technical outlook

Nickel July daily Chart has formed "Rising channel" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding at 952. The downside rally could be testing all the way up to 944-936 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish/sideways mode. Key resistance holds at 980.

Technical outlook

Nickel June daily Chart has formed "Rising wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding at 956. The downside rally could be testing all the way up to 946-939 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish/sideways mode. Key resistance holds at 978.

Technical outlook

Nickel June 2hr Chart has formed "Rising channel" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding at 960. The downside rally could be testing all the way up to 953-948 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish/sideways mode. Key resistance holds at 978.

Technical outlook

Nickel June daily Chart has formed "Rising wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding at 970. The downside rally could be testing all the way up to 962-955 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish/sideways mode. Key support holds at 992.

Technical outlook

Nickel June 4hr Chart has formed "Rising wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bullish term based on the current price action, once the same breaks above a key resistance holding at 988. The upside rally could be testing all the way up to 995-1004 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish/sideways mode. Key support holds at 970.

Technical outlook

Nickel June daily Chart has formed "Rising wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding at 974. The downside rally could be testing all the way up to 966-960 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish/sideways mode. Key resistance holds at 994.

Technical outlook

Nickel June 4hr Chart has formed "Rising wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bullish term based on the current price action, once the same breaks above a key resistance holding at 994. The upside rally could be testing all the way up to 1002-1010 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish/sideways mode. Key support holds at 976.

Technical outlook

Nickel June daily Chart has formed "Rising wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bullish term based on the current price action, once the same breaks above a key resistance holding at 980. The upside rally could be testing all the way up to 992-1000 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish/sideways mode. Key support holds at 952.