smashing, page-28

Big shorting attack today got smashed. The 5c tail was bought up yet volume still not large but average.
That 20c rise on Monday was a big surprise, looks like a large long call from an institution that scared off the shorts until this morning when they piled in but then failed to hold it down below 2.71.

Pattern looks like a hammer with long tail but engulfed by the green bar yesterday.

yes @gavascarred, Ni is reversing it correction but nowhere near the 5.55 peak recently.
Now Ni price has spiked 4.70-4.85 in 30 min after ASX close.
USD$ strength & LME buoyant still doesnt make sense for Ni to go up.

The correction maybe over but the shorts are still trying. With this Ni price rise may see a false start pattern tmrw, open at 2.80 hit 2.82 high then the shorts may come in to smash it down to 2.75 ending same as the close.

Until the Ni price and USD$ trend clarifies and becomes predictable again like it did in the bullrun June-8 Sept peak, I expect volatility and sideways.

Ni price at 4.85 is nowhere near the peak at 2.90 on 8 Sept around 5.55, for some reason the correction and shorting was not as strong as the bullrun on the way up. Still we are only 10% up from the 2.50 reversal point and 10% from the peak 2.90 so midrange which is dangerous to buy or sell at. Next 7 days may show the true trend and large shorting interest response to this surprise rise.