nickel stocks decline

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