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Nickel: Persistent Consolidation Needed For Continuity Of Uptrend

Published 11/05/2017, 12:06 AM
Updated 07/09/2023, 06:31 AM
MNKc1
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On analysis of the movement of Nickel Futures price since my last analysis.
Nickel futures price 1 Hr. Chart - Expected Propositional Trading Zone For The Week Of October 29th, 2017

Having a look at the movement in the same chat on November 3rd, 2017, I find that the Nickel futures price seems ready for volatile moves on either side from the current levels after an eruptive move during the Week of October 29th, 2017.

I conclude that the Nickel futures price needs a persistent consolidation at the current level which will confirm beginning of more strong moves during the upcoming weeks amid growing volatility. I conclude expected propositional trading zones for the Week of November 5th, 2017.
Nickel futures price 1 Hr. Chart - Expected Propositional Trading Zone For The Week Of November 5th, 2017
Nickel futures price 4 Hr. Chart - Expected Propositional Trading Zone For The Week Of November 5th, 2017
Disclosure: This content is for information and educational purposes only and should not be considered as an investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital be involved which you are prepared to lose.

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