Report For Date 3/08/2015
Nickel LME- (Price figures in $/Ton)
Exit long and distribute at higher range of 10925-11095 as the opportunity arises.
Expect lower range of 10840-10585 to be tested.
On the weekly chart trend is down.
As per monthly chart, expect 9650 to 9374 to be tested and can be used to cover short position.
Weekly Level for LME Nickel
STRATEGY
|
CLOSE
|
DRV
|
TREND
|
Trend Price
|
Trend Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Distribution
|
10925.00
|
12770.91
|
DOWN
|
16335.00
|
12.12
|
10585
|
10840
|
11010
|
11095
|
11350
|
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.