Nickel Report

Technical outlook

Nickel Dec 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 1025. The upside rally could be testing all the way through 1040-1060 level 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 970 level. Key support holds at 970.

Technical outlook

Nickel Dec 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 1024. The upside rally could be testing all the way through 1040-1060 level 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 970 level. Key support holds at 970.

Technical outlook

Nickel Dec 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 1000. The upside rally could be testing all the way through 1015-1030 level 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 960 level. Key support holds at 960.

Technical outlook

Nickel Dec 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 974. The downside rally could be testing all the way through 960-948 level 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 1015 level. Key resistance holds at 1015.

Technical outlook

Nickel Dec 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 1015 level in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 970 then it might turn bearish once again. The downside rally could test up to 950 level. Key resistance holds at 1015.

Technical outlook

Nickel Dec 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 962. The downside rally could be testing all the way through 948-930 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 1005 level. Key resistance holds at 1005.

Technical outlook

Nickel Dec 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 980. The downside rally could be testing all the way through 966-950 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 1025 level. Key resistance holds at 1025.

Technical outlook

Nickel Dec 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 1000. The downside rally could be testing all the way through 990-980 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 1038 level. Key resistance holds at 1038.

Technical outlook

Nickel Dec 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 1076. The upside rally could be testing all the way through 1090-1105 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 1032 level. Key support holds at 1032.

Technical outlook

Nickel Dec 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 1020. 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. The upside rally could test up to 1060 level. Key resistance holds at 1060.