{"id":58470,"date":"2011-07-18T10:53:28","date_gmt":"2011-07-18T00:53:28","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/07\/18\/reversal-looming-for-nickel\/"},"modified":"2011-07-18T10:53:28","modified_gmt":"2011-07-18T00:53:28","slug":"reversal-looming-for-nickel","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/07\/18\/reversal-looming-for-nickel\/","title":{"rendered":"Reversal Looming For Nickel"},"content":{"rendered":"<p>\n\tBy Rudi <span>Filapek-Vandyck<\/span><\/p>\n<p>\n\tTechnical market analysts at Barclays have stuck to a positive medium term view for energy and materials, and they still do so today, but nickel has become a noticeable exception. The reason is straightforward: after recent <span>outperformance<\/span>, nickel is now facing stiff technical resistance and the analysts do not believe the metal will be able to break-through it.<\/p>\n<p>\n\tThe only conclusion left is then that nickel&#039;s fortune&#039;s are about to turn for the worse. No doubt, nickel bulls are dreaming of a return to US$<span>25k-plus<\/span> price levels, but at Barclays the target is now for prices closer to US$<span>22k<\/span>\/t.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Nickel_facing_resistance.jpg\" style=\"width: 670px;height: 400px\" \/><\/p>\n<p>\n\tThe analysts remain of the view that copper is on its way to US$10,000\/t and beyond, <span>aluminium<\/span> has its sights on a return to US$2600\/t, while crude oil remains en route to US$120.60\/US$100.80 and then US$127\/US$105.50 for Brent\/<span>WTI<\/span> respectively.<\/p>\n<p>\n\t<strong>Technical limitations<\/strong><\/p>\n<p>\n\t<strong><span style=\"font-style: italic\">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, <em>we <span><span>apologise<\/span><\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n<p>\n\t<em>Find out why <span>FNArena<\/span> subscribers like the service so much: &quot;<a href=\"http:\/\/www.fnarena.com\/index4.cfm?type=dsp_newsitem&amp;n=29EB960D-9DFF-C00E-7F6B464E5D52E250\">Your Feedback (Thank You)<\/a>&quot; &#8211; Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical analysts at Barclays report nickel&#8217;s run is about to run into a wall of resistance.<\/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":[7],"tags":[23],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58470"}],"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=58470"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58470\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}