Short Term Nickel Update July 8th, 2015

In our last post, we have warned of further declines to come and the price did not disappoint. Prices have today broken most recent low and printed 10440 overnight. We have been calling for a first target at 10100 +/- ¬†and possibly 9690 +/-. This so far remains valid especially that there is not even one single “strong” evidence pointing otherwise.

If no surprises, look ahead for lower numbers to be printed in the next 10 trading days with short pauses on the way. Also, Stay alert for a reversal signal that after all, might not be all too far away despite the bearish theme.