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Further significant downside expected in nickel and zinc, with negative technical theme emerging in base metal prices

Angela Mangan

QMG Pty Ltd

Further significant downside expected in nickel and zinc, with negative technical theme emerging in base metal prices. Over recent weeks, gold and copper have generated technical sell signals. As flagged earlier in the week, nickel and zinc were showing the potential to follow suit. The major declines overnight resulted in both these base metal prices breaking key support levels / generating technical sell signals. Given the major base metals have generated technical sell signals in rapid succession; it is a negative technical momentum indicator for the metal price sector and outlook.


Angela Mangan
Angela Mangan
Technical Analyst
QMG Pty Ltd

Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.

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