Mcx nickel future technical call update
Mcx nickel future price is trading at 581 with flat gains. Nickel future opened strong bullish in month of July 2017. But failed to hold support of 590 rupee and with strong sell off move we saw low at 573 yesterday in intraday and nickel future hit July bearish target of 573.below 573, next nickel price support will be at 541 rupee for this month.
Mcx nickel below 590 will remain weak and sell on rise and expect downside. Closing below 573 means fresh breakdown and downside target of 541 rupees. Traders enter long above 590 rupee only for upside targets 622 and then 639 rupees.