Nickel technicals Posted here last week explaining how that 4.80 area will find support in the nickel spanking it’s taken and here we are today up. Nickel could finally be about to break out, look at the peak from May and draw and draw a line at each point until today. If nickel goes any much higher than we could be breaking out of the downward trend from the last 7 months. Hasn’t broken out yet but I believe it’s coming in the next week, should spike Sherritt back to .60s especially if markets rebound. Even if they don’t it be nice to see Sherritt run counter to the Dow. So stupid if follows the dow down but doesn’t follow it up most of the time on movements.
Anyways my prediction is we see $6 nickel fairly quickly 2-3 months and a huge relief from prices down here soon.
On Sherritt technicals obviously it ain’t looking good, we need to get back to .70s or even .65 area in a 7-10 day time frame to confirm a break from the downtrend. My guess is we consolidate in the .70s soon and could go either way from there. Good luck investors