Nickel future monthly outlook June 2017
This was third losing month for nickel prices and in these 3 months prices
tumbled from top of 745 to low of 572. This month nickel future recorded low at
652 while high was around 572. Total 80 rupee or 12% range and closing near low
with bearish outlook.
bearish below 591 level. Daily chart price pattern and indicators are bearish
and suggesting downside for this commodity in June series.
then 544. Expect first bounce back towards 591 and then downside move.
on volume then expect strong short covering rallies for targets 608 and 636.
loss above major top of 610 rupees and keep targets at 562 and then 544 for
month of June 2017.
then with bearish breakdown heading towards 2017 bearish target of 530 rupees.