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Nickel

MCX Lead: Pitchfork, Bullish Flag & Double Top PatternHere I have used the three most popular patterns, which are pitchfork pattern , bullish flag pattern , and double top pattern on MCX Nickel daily chart. First of all, let's start with a pitchfork pattern. Nickel is running on the support line area. This movement indicates a continuous uptrend ahead. The second thing is the bullish flag pattern, which also indicates the same. After a short reversal, nickel will start marching for the following targets: 162 - 164 - 166+ If the trend breaks the support line, there will be an activation of the double top pattern, which indicates the fall to the following levels: 148 - 145 - 142.6 Additionally, a breakout of the neckline is a direct sign of an extreme downtrend. And that will become unstoppable and hit the following levels: 136 - 132 - 128
MCX:LEAD1!
by freestocktips
MCX Nickel Double Top - Potential ReversalAccording to this chart, MCX Nickel is making a double top chart pattern. It's at risk of a bearish trend after double top formation. Wherein the first top at 1158.4 level, and the second top can be between the range of 1160 - 1176 . If it's a second top, nickel will make a large false break pin bar here. That might be up to the 1176 level. Afterward, the short-term traders can sell it for levels of 1106 - 1076 and below. Wait for the right entry-level, don't sell above 1160 level. Here I have drawn a neckline as a support trendline to get an accurate exit/entry point.
MCX:NICKEL1!Short
by freestocktips
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