NICKEL Trading Tips Technical Analysis Chart Graph forecast- Nickel is currently stuck in a range bound zone, no clear direction so far, Sharp move expecting once it comes out from its range. (Updated on 11th September 2014, Thursday).

NICKEL (MCX)

• As per previous report published, Nickel gave a small bull move after breaking its resistance @ 1195 and made a high around 1204. (Click here to see previous report published on NICKEL-MCX).
• Now as per current technical chart no1, Nickel closed above its strong reistance @ 1195 and made a bullish breakout but stock failed to sustains above and fell down from next trading day hence made a false breakout.
• Also See - MCX NATURAL GAS has formed double bottom formation, will favor bulls once closes above trend line resistance.
• As per graph no2, Nickle has now again entered in range bound zone, so as long as trades in between its range trend will remain zia zag. Sharp move expecting once Nickel comes out from its range. Levels to watch out resistance around 1204 and support around 1110. Any side breakout can bring strong action. Close Watch.
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• As per chart no3, Nickle is holding its 100 days moving average, previously Nickle bounce back from 100 DMA, close watch as long as trades above bulls will be favored, once it closes below 100 DMA bears may get active.
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