5 Oct 2021 ● 05:49 AM
The entire rise from March 2021 to September 2021 ended up becoming a corrective pullback. There could be two scenarios that can play out. The first scenario is that the entire structure is a complex correction in which case, Nickel can do W-X-Y. The second scenario is that the entire corrective pattern ends up becoming a running flat. Currently, Nickel is at the 40WMA. If the breached on a closing basis then on the way down, the lower Bollinger Band at 17300 and the lower end of the channel at 16375 will be the levels to watch out for where nickel can possibly bottom out.