Good to see us close back above our 20sma today. So now we are...

Good to see us close back above our 20sma today.

So now we are back over our 5, 20 & 50sma’s.

These moving averages are also starting to turn back up which is good progress.

We should retest our 200sma sitting at about $0.255 - This time I think we reclaim it (even better with a burst of large volume while doing so).

Nickel prices have also reclaimed the 50sma on Friday’s session by closing above $23k per tonne and breaking out of the 4 month downtrend yet holding the long term uptrend from 2020.

AUD giving us a great buffer sitting at $0.69 and having had traded as low as $0.67 = $15.11AUD per pound.

LME nickel inventories still falling off a cliff.

Talk of slowing rate increases should also help.

Oil down about 32% from June’s highs. Shipping costs down near pre-pandemic lows. Being our two biggest cost items, this should assist in cost control and we may even come under our FY23 cost guidance if we continue to track as per current.

Labour tightness should balance out (arrogance and onerous request. I.e. fat pay packets, incentives, etc) simply will not work in an environment where central bankers are controlling an economic slow down. The same people asking for big $$ will soon get on their knees and eat humble pie.

All positive direct macro’s, we just need management to continue to deliver and drive ramp up.

Mason.