MCX Nickel daily chart technical analysis
Mcx nickel future on last trading session closed at 888.5 with loss. On daily chart, mcx nickel, price trend and momentum both are bullish. Nickel is trading above its month and 3-month averages and making higher tops. Daily chart indicators pattern suggesting some correction and nickel future may test average levels in next week.
For next week, mcx nickel support zones are 882 and 870 while on upside expect strong resistances at 905 and 918.
Short-term traders above 970 keep buy on dips view for nickel future and keep there targets at 905 and then 918.
MCX Nickel weekly chart technical analysis
Mcx nickel future this week closed with gains of almost 1%. Touched its 2 years average level but closed below it with positive gains suggesting recovery rally. Weekly chart indicators pattern are strong bullish and we may see bullish breakout here in upcoming weeks if fundamental supports.
From medium to long-term view, mcx nickel support zones are 880 and 850 while on upside 910 and 950 are strong resistances.
Swing traders and investors use 850-900 zones for buy and long accumulation with strict stop loss below 840 and expect 950+ in long terms.