Fundamentals Positive For Nickel<\/font><\/font><\/a><\/p>\n\n\tOn Friday, nickel used the overall positive mood on the London Metals Exchange to post various bullish patterns and signals on price charts – enough to have part of the trading community excited about the metal's prospects for the sessions ahead.<\/font><\/font><\/p>\n\n\tFrom a purely technical point of view, as long as nickel remains priced above US$22,813\/tonne, the outlook should remain for higher prices, or so the bullish view goes.<\/font><\/font><\/p>\n\n\tSome chartists believe that if nickel can keep the positive momentum going in the days ahead (see: US$22,813\/t above) than it should be able to reach as high as US$26,100, if not to US$28,500 in the medium-term.<\/font><\/font><\/p>\n\n\tOn Friday, nickel surged above the top Bollinger band, which is usually seen as a positive momentum indicator. In addition, the metal broke higher over the top of a large flag formation at US$22,813-US$20,729 this morning. If nickel manages to hold above Friday's price levels later today, chartists report this will lead to the creating of bullish medium term targets of US$24,900, US$26,100 and US$28,500.<\/font><\/font><\/p>\n\n\tNickel also enjoys trendline support at US$22,813, at US$22,328, at US$22,133, and at US$20,729\/t.<\/font><\/font><\/p>\n\n\tASX-listed companies offering nickel exposure include:<\/font><\/font><\/p>\n\n\t– Tectonic Resources ((TTR))<\/font><\/font><\/p>\n\n\t– Falcon Minerals ((FCN)<\/font><\/font><\/p>\n\n\t– Fox Resources ((FXR))<\/font><\/font><\/p>\n\n\t– Panoramic Resources ((PAN))<\/font><\/font><\/p>\n\n\t– Independence Group ((IGO))<\/font><\/font><\/p>\n\n\t– Mincor Resources ((MCR))<\/font><\/font><\/p>\n\n\t– Minara Resources ((MRE))<\/font><\/font><\/p>\n\n\t– Metallica Minerals ((MLM))<\/font><\/font><\/p>\n\n\t– GME Resources ((GME))<\/font><\/font><\/p>\n\n\t– Segue Resources ((SEG))<\/font><\/font><\/p>\n\n\t– Western Areas ((WSA))<\/font><\/font><\/p>\n\n\t– Mirabele Nickel ((MBN))<\/font><\/font><\/p>\n\n\t– Heron Resources ((HRR))<\/font><\/font><\/p>\n\n\t– Poseidon Nickel ((POS))<\/font><\/font><\/p>\n\n\tNickel futures (3-mth) closed at US$23,700\/t on Friday.<\/font><\/font><\/p>\n","protected":false},"excerpt":{"rendered":"Nickel’s once again outperformed its peers on Friday. Now, chartists are really getting excited.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[23],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56420"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56420"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56420\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}