MCX Nickel Weekly View for week beginning 9th July

Nickel July 2018: (previous day close/CMP Rs.958.90):

Support: 892.10-908.10-925.50-944.40-949.60

Resistance: 974.60-992.30-1009.70-1025.70-1044.80

  • 100 day moving average at 944.40 is the key weekly support.
  • 100% retracement is at 949.60.
  • Bullish case: Nickel needs to trade over 944.60 to rise to 1009.60 and 1044.80.
  • Bearish case: Nickel can fall to 925.50 and 892.10 if it trades below 944.40.
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