re: allegiance oversold metals analyst, page-14

re: edging closer towards the upper downtrend line TECHNICAL OUTLOOK!
Closed at 32c nice job and broke the downtrend line . Now we need support at 32c so mondays trading will give us the answers as to whether the short term downtrend is over. Lets hope so.


FUNDAMENTALS
Nickel may fall off from recent highs but China are screaming out for nickel and world supply is 70,000 tonne /ni concentrate short of demand....this is taking into consideration all nickel producers
to put it simply .....if supply cannot keep up with demand the price of nickel will continue to rise......
I read an article the other day from resource economists saying that the commodities boom has plenty of growth left ....i tend to agree as we are consuming more and more of these commodities as underdeveloped countries become capitalistic and influenced by the western world. Thanks to globalisation and world trade, countries like china, russia, south america will have to catch up with the rest of the world and alot of corporate money has been invested in these countries.....take a look at places like Dubai AS A CLASSIC EXAMPLE AND CHINA ARE BUILDING MORE AND MORE CITIES.
Also lets not forget Hibrid vehicles which require Nickel to operate......as we look towards alternative fuel and move away from fossel fuels which will run out by 2038 (prediction) there is a switch to cleaner and more efficient energy such as Uranium. And there i must stop as Uranium is not the topic of discussion .....lol Back to Nickel AGM have the grades, ,supply contract with Chinas largest Nickel supplier (90% of Chinas Nickel demand) a second potential deposit. ,global demand in excess of supply....they will not be able to produce it fast enough.....AGM are in the perfect position to take advantage of the current environment....and i firmly believe their shareprice will be well over a $1.00 a share inside 12 months. cheers Jam