Now look, we all know mild-mannered, smooth talking, Stetson-wearing Redback is our resident "Guru Bob" when it comes to all things nickel and right now he's getting a little pleased with the nickel-copper price relationship which he says tells us loud and clear when nickel is cheap. This is just such a time apparently.
So, scratching my head (and other parts I won't mention here) I'm doing a little playing around which in all likelihood will be a complete waste of time: yours and mine both, tragically - apologies therefore herein ...
Copper currently is way ahead of nickel in its recent price rise. So where might nickel be in the trailing stakes? Well, until the supply and stockpiles get noticeably dented, I can't see much profound happening. but in fairness, the LME stocks are in a declining mood at present. So let's give 'em a couple of months to get us sub 350k - a significant new low in recent years. During this time Ni either plays out an inverse H&S and completes a head and forms a right shoulder, or forgets the right shoulder altogether and marks time for a few months fluffing around $10,000/t (~$4.50/lb) ... Assuming those stocks do head south of 350k, we then see the nickel price march north to just sub $12,000/t (~$5.50/lb) .... Beyond that, consult the nickel gods (or ask Red for follow up opinion).
Anyway, hope I haven't wasted too much of your time fellow nickel tragics. The Dees played an absolute shocker last night (lucky Sydney kicked like blind men or we would have been thrashed by 15 goals) so am not thinking footy this morning : )
Enjoy your weekends and may we all kick many at*** this year!!!
Kip
Ni -WEEKLY
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0.4¢ |
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Mkt cap ! $14.63M |
Open | High | Low | Value | Volume |
0.4¢ | 0.4¢ | 0.3¢ | $16.08K | 4.353M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
110 | 66704834 | 0.3¢ |
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Price($) | Vol. | No. |
---|---|---|
0.4¢ | 46233176 | 24 |
View Market Depth
No. | Vol. | Price($) |
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102 | 65395336 | 0.003 |
31 | 60029719 | 0.002 |
21 | 92558697 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 38832711 | 21 |
0.005 | 37724091 | 21 |
0.006 | 8998000 | 12 |
0.007 | 8518277 | 9 |
0.008 | 1800000 | 1 |
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