I can't seem to post this chart in so bear with me, but it seems to be "respecting" the traditional rules of tech.analysis with a 3rd time touchdown on the ascending triangle. img src=http://www.kitconet.com/charts/metals/base/spot-nickel-5y.gif With extrapolation Nickel at US$11/lb is really on the cards in around 12 months time....well so says the chart anyway... It is interesting to note that even with us in Nickel's quite time of cyclical buying, and inventories nearly doubling in the last month, the price of Nickel has risen to US$7/lb. What is going to happen to the price when production/consumption comes into full swing in a few months time? Even with Voisey Bay coming on line next year, we are still looking at forecast production deficits against consumption!
MCR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
