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MCX Nickel Double Top – Potential Reversal

free commodity nickel calls daily chart

free commodity nickel calls daily chart

According to this chart, MCX Nickel is making a double top chart pattern. It’s at risk of a bearish trend after double top formation. Wherein the first top at 1158.4 level, and the second top can be between the range of 1160 – 1176.

If it’s a second top, nickel will make a large false break pin bar here. That might be up to the 1176 level. Afterward, the short-term traders can sell it for levels of 1106 – 1076 and below.

Here I have drawn a neckline as a support trendline to get an accurate exit/entry point.

Wait for the right entry-level, don’t sell above 1160 level.

Further information I will update to the premium subscribers only.


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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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