is a technical buy, page-17

Yes adamp,

I was watching this one as we were definitely at a (descending triangle) breakout point and whilst I hoped it would break to the upside (due to the Chinese return to the nickel market later this week) I recognised that there was a good chance it would break to the downside.

I estimated a drop to 72c based on the widest part of the triangle during the move up...and of course it got to 73...unfortuately, no good for me as I thought it would retrace back down.

In the end, it got back to 79c before closing at 78c. So where from here for the rest of the week...might drop a bit over the next couple of days but I don't believe it will get back to 73c and with the chinese returning to the Ni market late this week, we may see a return to the support level of 79c very quickly...guess I will have keep watching!!!



I wasn't entirely sure which way it would go