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Nickel Futures

3 Mar 2021 ‚óŹ 02:18 PM

Nickel prices have fallen sharply today but the decline is simply a pullback from the top end of the channel to the bottom end of the channel on the weekly chart below. Prices are now attempting to take support at the lower end which is close to 17,200 and should hold on a closing basis for the larger uptrend to remain intact. The decline may be either wave 4 or wave 2 of 3, and we can make that choice later on as well. 

Nickel prices have fallen sharply today but the decline is simply a pullback from the top end of the channel to the bottom end of the channel on the weekly chart below. Prices are now attempting to take support at the lower end

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