Where Might Nickel Be Heading?

One persons view … Figures are rounded…

See two inverse H&S’s on the chart …. The “completed” H&S* with the down-sloping neckline, is well on its way to fulfilling its target – circa $11,400/t … The as yet incomplete H&S** with the horizontal neckline (if it evolves) has only just validated a “Head”, with its recent neckline approach.

It’s possible both H&S’s will play themselves out… The first already completed H&S*, may pause here, while H&S** completes a Right Shoulder, before breaking through its neckline… It would then only take a short while (presumably) to reach 11,400 - which achieves H&S *’s target. H&S** is then headed for a US$13,900/t target if it is to complete (10,700 – 7.600 = 3,100 … 3,100 + 10,800 = 13,900) or $6.30/lb … we’ll see

Cheers, Kip : ))