The price of nickel is trying to accelerate its upward move. Bullish momentum is about to accelerate. The nickel market might heat up as 2023 will kick off. This is consistent with our green battery metals forecast, our recent conclusion explained in the green battery metal that looks best as 2023 kicks off and also our vision on How To Play The Green Battery Super Cycle In 2023.
The nickel price chart is completing a cup and handle structure over 6 months. Price and time are in synch as a reversal is complete (apologies if this sounds cryptic, it might require deeper charting expertise in order to fully grasp this sentence).
In layman’s terms: very powerful, very bullish.
Although we like green battery metals a lot, we had two problems early this year with nickel:
- It’s a niche market, not a lot of pure play nickel miners are out there.
- The nickel price exploded with the Russia/Ukraine situation.
We hate explosive markets. We prefer a regular bullish trend which accelerates over time in 3 distinct phases.
Fast forward to today, we see a really nice structure on the nickel price chart, particularly created in the period June till November.
We believe that an acceleration is underway in the nickel price chart. This should boost nickel miners. We believe the first few months of 2023 will be very bullish for a select few nickel miners.
In our Momentum Investing alert, sent to premium members on Nov 20th and available in the restricted area (after signing up here), we selected one favorite nickel miner that trades in Sydney: “Bi-Furcated Markets Are Slowly Improving Even Though Volatility Is Expected To Pick Up.”