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BubaBob

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Nickel testing support????

in response to Re: May 25, 2011 Deadline by Sarlock

posted on May 18, 10 03:00PM (Log in to use the IP Check tool) ^[?]

First of all, I know absolutely nothing about chart analysis

But I've been looking at the nickel charts and have been wondering if it was going to test what looked like a bottom in the near term of $9.25, and it seems to have done just that yesterday.

I tried to post the 6 month Kitco chart yesterday with the support line to illustrate this with no luck.

I'm wondering if someone who understands chart analysis can provide some feed back about what is the likely hood of a continued uptrend and what the top may be from a charting perspective.

It just seems too coincidental that nickel prices rebounded today.

The other thing that has been nice to see is the steady dwindling of the LME inventory over the last three months, although it still has along was to go.But it is only 30-40days supply, and everything I’ve been reading lately seems to be bullish about nickel.

BubaBob

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