Short Term Nickel Update June 10th 2015

Price came in nicely into set target and has created a rejection signal once it touched 13620, which was the high of yesterday just achieved couple hours after the post.

We are still looking for a top to form, we have indicated yesterday that a break of 13350 would put more pressure on prices for further declines. Decline has so far held at exactly 13350 overnight.  We expect a small upwards rally today from current levels that should not break 13620 and then another leg of decline into area of 13200 +/-. However if 13620 is broken, this would just indicate that there is one more swing into 13800+/- to expect before the correction is done and sealed.

For now we would stay aside to have a confirmation of  the top.

Nickelshorttermjune1015

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