Gold Silver Reports (GSR) – Technically Nickel market is under long liquidation as market has witnessed drop in open interest by 0.14% to settled at 9348 while prices down 5.1 rupees.
MCX Nickel is getting support key 869 and below same could see a test of 858 level, And resistance is now likely to be seen at 886, a move above could see prices testing 895.
Nickel on MCX settled down 0.58% at 878.50 as long liquidation seen in the market as worries about the potential for a U.S.-China trade war and frustration over U.S.
President Donald Trump’s steel and aluminum tariffs threatened to dominate a gathering of finance leaders amid strengthening growth. While traders made offers actively due to ample supply, downstream customers took a wait-and-see approach.