Cup & Handle Breakout in Nickel

The commodity has been in dominant trend up. Recently a continuation cup & handle breakout was noticed in the futures. The breakout area was also retested with long tailed candles. In the last session the price opened with a gap up, forming a perfect pedigree for a breakout. As long as 820 levels are saved on the closing basis the commodity is expected to move towards 920 – 970 range. The minimum pattern target is 993, but predicting this target now is a very matured view.

The Bollinger Bands on the RSI has formed a double bottom, indicating the support of volatility to the move also. The prices are expected to carry further up.

Nothing is certain and 100% in trading, even the best traders have worst draw downs, accessing risk and probabilities then placing your bets according holds the key.

For regular updates Join Our Telegram channel : Join Here

Follow us on Twitter: Click Here

For Educational Videos Subscribe us on YouTube : Click Here


Leave a Reply

Your email address will not be published. Required fields are marked *

About us

ProRSI is a premium trading mentorship program which helps you trade profitably

+91 9748173333

Mon - Sat 9.30 - 19.00

Sunday closed