base metals tips, Commodity MCX / NCDEX tips, mcx tips

MCX Nickel Detailed Trend Forecast & Tips

free mcx nickel calls chart

free mcx nickel calls chart

Here, I have used Elliott wave theory, Fibonacci Retracement, and MA (30 & 62) to identify the next move. At present, MCX nickel in a corrective wave. We may see a reversion bounce off here. It can be up to 38.20% to 23.60% of the retracement level. Wherein, 38.20% retracement level will act as a resistance and 50.00% vice versa.

In other words, nickel will start raising for 1076 – 1090 – 1100 level. Dynamic resistance breakout will lead the prices for a 23.60% retracement level. Intraday or positional trader can hold 1080 level.

If nickel breakout the strong support and 50.00% retracement level, don’t buy. That can slip immediately for a 61.80% retracement level.

Also, don’t forget to wait for a crossover of MA 30 & 62.

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Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.

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