Stocko, as you know I'm basically a chartist and these comments are based on that.
Nickel seems to have broken thru a triple top. That means two things
a) Its going to run hard for awhile.
b) Its then going to reverse and turn nasty.
We know the long term prospects for nickel are very good because of the shortage and China demand - but that does not mean things will go in a straight line. The present rally is fairly mature and probably not for buy-and-holders to jump on. Still some good profits for those prepared to stay the distance and trade fast, imo.
Looking at a few leaders such as JBM - I get the impression we are slightly short of half way on an "extended fifth" that started around Sep 1. Extended fifths run hard and correct hard, so that matches the nickel situation quite well.
In the meantime - there is gold, and of course copper which, as others have pointed out, is earlier in the cycle. And, I suspect, other minerals. ILU made a pre-emptive breakout today.
I would certainly appreciate some research or comments from others about which metals are going to move.
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Stocko, as you know I'm basically a chartist and these comments...
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Last
$63.22 |
Change
-0.710(1.11%) |
Mkt cap ! $12.25B |
Open | High | Low | Value | Volume |
$64.08 | $64.08 | $62.97 | $18.50M | 292.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4 | $62.93 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$63.23 | 2317 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4 | 62.930 |
1 | 1000 | 62.910 |
3 | 382 | 62.900 |
2 | 1601 | 62.890 |
1 | 1258 | 62.840 |
Price($) | Vol. | No. |
---|---|---|
63.230 | 2317 | 2 |
63.270 | 1388 | 1 |
63.280 | 1258 | 1 |
63.290 | 542 | 1 |
63.320 | 1742 | 1 |
Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
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