Technical forecast for Nickel

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Nickel only dipped to 14750 before turning higher & made it all the way to 15099. A push higher today runs in to tough resistance at 15222/260 which could cap a bounce this week. However shorts here need stops above 15300 for 15390 then 15510/560.

Failure to beat 15100 sees us back at 15039/000. Any longs here need stops below 14920 for 14800/750. A break below here risks a retest of May lows at 14609. Longs would then need stops below 14600 to target 14120 in the days ahead.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More