Nickel Price Outlook, page-75

So a ratio analysis of the price of two commodities (eg: Ni/Cu price ratio) is not TA? Interesting...

I like the Ni/Cu price ratio thesis, but it most certainly is TA. At its root is the idea that historical price interrelationships between the two (i.e. the ratio), will repeat or at least revert to a long-term mean or 'normal' range, based on historical observations. It's interesting to see someone bagging TA, then in the next breath using it, complete with a chart, to put forward their own investment thesis.

Remember, you are using the behavioural history of this price ratio to assist your call that the price of Ni will rise - along with some FA.

Like I said, I think the Ni/Cu price ratio thesis has some merit, but just like day is day and night is night, that my friend is TA.