Nickel Report

Technical outlook

Nickel 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 breaks above a key resistance holding at 880. The upside rally could be testing all the way through 888-900 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 865 level. Key support holds at 865.

Technical outlook

Nickel 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 bearish term based on the current price action, once the breaks below a key support holding at 862. The downside rally could be testing all the way through 854-844 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 872-880 level. Key resistance holds at 880.

Technical outlook

Nickel 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, testing all the way through 878 and furthermore levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 862 then it might turn bearish once again. The downside rally could test up to 856-846 level. Key resistance holds at 878.

Technical outlook

Nickel daily chart has formed “Right angled Descending broadening wedge” pattern. The last session been in bullish trend after few negative rallies 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 872. The upside rally could be testing all the way through 880-890 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 856-846 level. Key support holds at 846.

Technical outlook

Nickel daily chart has formed “Right angled Descending broadening wedge” pattern. The last session been in bullish trend after few negative rallies 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 876. The upside rally could be testing all the way through 882-890 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 858-846 level. Key support holds at 846.

Technical outlook

Nickel daily chart has formed “Right angled Descending broadening wedge” pattern. The last few sessions been in bearish in trend after a gap up formation 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 846. The downside rally could be testing all the way through 835-825 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 862-870 level. Key resistance holds at 870.

Technical outlook

Nickel daily chart has formed “Right angled Descending broadening wedge” pattern. The last few sessions been in bearish in trend after a gap up formation 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 842. The downside rally could be testing all the way through 835-825 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 860-870 level. Key resistance holds at 870.

Technical outlook

Nickel daily chart has formed “Right angled Descending broadening wedge” pattern. The last few sessions been in bearish in trend after a gap up formation 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 842. The downside rally could be testing all the way through 835-825 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 860-870 level. Key resistance holds at 870.

Technical outlook

Nickel daily chart has formed “Right angled Descending broadening wedge” pattern. The last few sessions been in bearish in trend after a gap up formation 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 848. The downside rally could be testing all the way through 840-830 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 862-870 level. Key resistance holds at 870.

Technical outlook

Nickel daily chart has formed “Right angled Descending broadening wedge” pattern. The last few sessions been in bearish in trend after a gap up formation 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 856. The downside rally could be testing all the way through 848-840 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 870-880 level. Key resistance holds at 880.