MCX-Nickel likely to test key resistances

Gurumurthy K
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The Nickel futures contract on the Multi Commodity Exchange (MCX) has surged breaking above the resistance at ₹640 a kg as expected in the past week. The contract made a high of ₹660.8 on Monday and has been hovering at this high since then. It is currently trading at ₹653 . Key resistances are poised at ₹657 – the 38.2 per cent Fibonacci retracement level and ₹665 – the 200-day moving average. Th...
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