Adjacent chart shows price movement of MCX Nickel continuous contract. Nickel is forming “higher top higher bottom” on the daily chart indicating uptrend in the short term. In addition, Nickel has given a bullish flag breakout thereby resuming its uptrend. It is likely to inch higher towards the swing high of 917 and subsequently towards 950 i.e. equality target of the previous rise. On the way down, 882 will act as crucial support in the near term. The daily momentum indicator has turned bullish.
