mcr jumps from 180cps to 240cp, page-4

re: nickel price down but mcr up MCR hugging upper bollinger band, and momentum in congruence with ma action, with it also pointing sharply skywards... so no panic at this stage.
The TA's amongst us would say more upwards price action based on the charts alone. Not until we get divergence between momentum and Bollingers would we panic.
The fundamentalists would say read my earlier posts re LME inventory levels and the medium term danger causing a huge Ni price squeeze unless we get some serious stocks to mkt.
MCR has had such a rapid rise through rerating supported by the volume that I cant see a crash; these commodity stocks behave differently to industrials so at the least I'd see price get support at the $2 level not a major kabang.
I notice spot Ni on the up as we speak.
I think the volumes traded this last 5 days or so speak volumes about MCR's p.e. recognition at long last.