The LME nickel price of 11055 was on the 23/03/20, not as previously stated. On my chart the market has been making higher bottoms and higher tops and has broken the down trend line, this would indicate a reversal in trend and that buying is better than selling. However after an important bottom there could be a secondary move which could test the bottom of 11055. I think we are in for a prolonged advance in the nickel price, however we are living in uncertain times and I could be wrong. As a point of interest MCR bottomed on the 23/03/20 at 40.5.
MCR Price at posting:
58.0¢ Sentiment: Buy Disclosure: Held
