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Nickel Breaks Down. Are Mining Stocks About to Get Crushed?
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ticker lesson
Breakdown
0:00Nickel futures· ticker
Nickel futures — down 4% week, failed breakout
- Down 4% for the week
- Lost trend line
- False breakout
- Came back down
- Looks lower
0:01PIK ETF· ticker
PIK ETF — down 2% week, lost parallel channel
- Down 2% for the week
- Lost parallel channel
- Attempted to get back up
- Did not happen
- Let parallel channel go
0:02copper miners· ticker
Copper miners — potential for decline in recession
- Same camp as copper miners
- Recession → likely to get smoked
- Lines walk down
0:03major minors· ticker
Major minors — potential for decline in recession
- Same camp as copper miners
- Recession → likely to get smoked
- Lines walk down
0:04Nickel futures· ticker
Nickel futures — double bottom, lower lows
- Double bottom
- Making lower lows
- Does not hold for next week
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