Nickel (LME) ST: the upside prevails as long as 18540 is support

Trading Central 2021-02-24 10:05:06

Our pivot point stands at 18540.

Our preference: the upside prevails as long as 18540 is support.

Alternative scenario: the downside breakout of 18540 would call for 17975 and 17635.

Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. The price is trading above both its 20 and 50 day moving average (respectively at 18423 and 17924).

Supports and resistances:

21670 **

21315 *

20960 **

20605

19352 last

18765

18540 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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