CASH BUYER 28,700.00
CASH SELLER & SETTLEMENT 28,705.00
Since when I started to post the graph of nickel, nickel prices in the world market has gone up by 6.29% from 27000 last February 1
Link of the initial post: http://the-morningstar-option.blogspot.com/2011/02/nickel-price-graph.html
The target of the inverted head and shoulder pattern on the chart at 28500 has already been surpassed it coincidentally falls within the size of the possible upswing from the start of the move up to the break out point.
With this being said, Nickel prices in the world market could probably start correcting.
However, basing from the previous pattern, the upswing after the breakout has exceeded the inverted head and shoulder pattern by 25% more.
With that in mind, nickel prices still have a possible upside of 6300 per tonne.
Just my wild imagination!
*Ninja Edit:
Nickel is currently trading at $13/lb, higher by 6.12% since February 1 at $12.25/lb.
Nickel has risen by 13.92% from its 2010 price level.
Crazy forecast for nickel is it could reach a high of $16/lb.
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