Short Term Nickel Update Oct 5th, 2015

Good Morning Traders!

It has been a month since our last post! Mainly due to the not so eventful price action. Prices traded in range throughout Sep. In our last post, I was looking for price to tick a little bit higher before resuming larger downtrend.

Price did travel higher after the post however peaked at 10475 and then drifted lower over the course of 12 days to 9605 to again go higher and peak at 10595.  Price somehow worked out as foretasted to hold above low of 9215 and peak by end Sep (price peaked on Oct 1st) but certainly momentum was weaker than expected and price did not come close enough to 11000.

That said it remains open to be seen if 9215 could hold through October as well. I don’t have my hopes high on this possibility. Fruther range trading expected in October.

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