Nickel Report

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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 1010. The downside rally could be testing all the way through 1000-990 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 1040 level. Key resistance holds at 1040.

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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 1040. The upside rally could be testing all the way through 1055-1070 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 1010 level. Key support holds at 1010.

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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 1050 level in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 1015 then it might turn bearish once again. The downside rally could test up to 990 level. Key resistance holds at 1050.

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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 1010. The downside rally could be testing all the way through 1000-985 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 1050 level. Key resistance holds at 1050.

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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 1055. The upside rally could be testing all the way through 1070-1080 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 1020 level. Key support holds at 1020.

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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 1012. The downside rally could be testing all the way through 1000-990 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 1050 level. Key resistance holds at 1050.

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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 1024. The downside rally could be testing all the way through 1010-1000 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 1052 level. Key resistance holds at 1052.

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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 1048. The upside rally could be testing all the way through 1060-1070 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 1020 level. Key support holds at 1020.

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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, testing all the way through 1020-1010 level in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 1046 then it might turn bullish once again. The upside rally could test up to 1070 level. Key support holds at 1020.

Technical outlook

Nickel Jan daily Chart has formed "Descending broadening 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 1044. The upside rally could be testing all the way through 1060-1075 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 1020 level. Key support holds at 1020.