Nickel
Dropped Near To 2-Week's Low At MCX
DATE: 30/05/2012
Nickel plunged by 1% or Rs 9.4 at Rs 928.6 per kg on
Tuesday, 29th May and tested an intraday high of Rs 945.8 per kg and low of Rs
922 per kg. Nickel, which was trading in range bound from last two weeks,
erased the earlier gains and fell near to its 2-week lows. Nickel traded below
9-day EMA and RSI stood at 41.3. Nickel for delivery in June was likely to find
support at Rs 932 per kg and at Rs 924 per kg and resistance at Rs 945 per kg
and Rs 956 per kg on Wednesday, 30th May.
At LME, Nickel snapped
earlier three session gains and dropped by 0.7% at $16960 per tonne on Tuesday
as the economic woes pertaining to the Spain offset the hopes on China economic
stimulus and calmed fear on Greece.
POWERED BY: COMMODITY
INSIGHTS
www.goldennifty.com
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