I think it needs to finish above 50 on above average volume to suggest a significant uptrend and hopefully suggesting a bit more confidence in the crushed nickel industry.
IMO the current sp gives the perception that Ni will not recover. Once people realise that there is a future in Nickel and a recovery will occur in the 12 months, then the sp should be about 70c.
From a trading point i am watching like a hawk, I will stop loss.
I reckon a few traders will want to exit by end of play tomorrow. Could be a volatile day.
MRE Price at posting:
45.0¢ Sentiment: LT Buy Disclosure: Held
