mcx nickel deeply oversold and at record low

mcx nickel weekly forecast for 23 to 27 nov 2015
mcx nickel future this week extended losses and closed at 575.
this was sixth losing week for this commodity and prices
are at record low levels.
on weekly chart, indicators are deeply oversold states.
mcx nickel future next week support zones are 570 and 557
these will be target zones in current downtrend.
on upside 595 and 614are strong resistances.
investors must keep buy and accumulate on decline
strategy for long term target of 840+.

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Updated: 22/11/2015 — 9:05 PM

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Pramod Baviskar

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