$4US/lb has historically been a level where sentiment around nickel has changed. IMO we're potentially in the midst of a double bottom for the NI price.
I think most who play in this market of ours are optimists, and it's certainly optimistic to call this a double bottom at this stage.
But could you imagine the SP if MPJ hit a commercial load of nickel and the price breaks out of it's current channel :O
Even a modest increase in the price of nickel could have significant effects on the SP.
Happy to be holding and bring on tomorrow!!
MPJ Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held