This is MCX Nickel weekly chart. Price projection is based on Parabolic Curve & Fib Retracement. As mentioned in the chart, At the end-point of Base 3, indicated by the "X" symbol, the nickel could double in the shortest period of time. Targets: 1426 - 1632 - 1778 - 1854 - 1962 ( 2.618 - Based on Fib Retracement ). If nickel breaks the curve line, it can...
Here, I have used Elliott wave theory, Fibonacci Retracement, and MA ( 30 & 62 ) to identify the next move. At present, MCX nickel in a corrective wave. We may see a reversion bounce off here. It can be up to 38.20% to 23.60% of the retracement level. Wherein, 38.20% retracement level will act as a resistance and 50.00% vice versa. In other words,...
I will update more information about Nickel soon.
The positive trend will start after a breakout of hurdle. Targets: 951 - 936 - 925