It is not a precipitous decline (yet), but Nickel stocks have flattened out over the past 7 sessions at the LME and in the final one, we see a decline!!!
As you can see on the chart below, the stocks have fallen from 78,918t to 78,870t, a fall of 48t. But this is after a period of flattening out.
The Nickel spot price has also fallen over the past 24 hours from a peak of $5.9685 at 5:30PM yesterday (our time) to $5.3562 now.
But with a decline in stocks we can expect to see the spot price track higher and eventually settle in the $10~15 range (in my opinion).
Robert
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Last
$12,675 |
Change
0.000(0.00%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| $12,675 | $0.00 | $0.00 |