Lagger that refuses to fall and dreams about greatness

10 ott 2023

The world's largest producer of nickel and palladium has had rather lackluster performance in 2023 advancing half as the general Russian Index. And still I cannot get over his accurate price structure that hints that better days are potentially ahead.



I want the price to start forming the right side and later the handle of a cup, and break out above important Sep'22 and Sep'23 high - 17240 area. If price will not be able to hold Sep'23 15730 low, I would want the area above 15250 and 200D line to act as support. Bellow this levels the analysis is to be considered wrong and invalid.

Trading thesis: cow-boy type longs (higher failure risk) may be considered above 16430 area with 3 and 5% stop levels.