Report For Date 17/07/2017
LME Nickel: Cover short position
Nickel LME- (Price figures in $/Ton)
Cover short position at 9380 or below.
Expect a rise towards 9545-10040.
Weakness is below 8700.
Contrarian accumulation can be undertaken at 9380-9215-9050 as the opportunity arises.
Weekly Level for LME Nickel
|
STRATEGY
|
CLOSE
|
DRV
|
TREND
|
Trend Price
|
Trend Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Cover Shorts
|
9380.0
|
9483.4
|
DOWN
|
9920
|
24.03
|
8555
|
9050
|
9215
|
9545
|
10040
|
Weekly Chart
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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.
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