Nickel : Technical View : 21.11.2019
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On the daily chart, the price slipped by 1.27%
in the last session.
Moreover, the price has been trading below the lower line of the Falling Channel, which adds pressure in the counter.
Additionally, the price is trading below the 21*50 SMA’s, which confirms the downtrend.
Also, Momentum indicator MACD has been decisively trading below the zero level which indicates bearishness.
As per the above technical structure; we expect bearish move in the counter.
Moreover, the price has been trading below the lower line of the Falling Channel, which adds pressure in the counter.
Additionally, the price is trading below the 21*50 SMA’s, which confirms the downtrend.
Also, Momentum indicator MACD has been decisively trading below the zero level which indicates bearishness.
As per the above technical structure; we expect bearish move in the counter.