Nickel

Nickel closed up by 0.13% to 18595.0 on 23 January 2021 and +2.89% on a weekly basis. Nickel momentum was last calculated at +100.0/100 indicating positive momentum. Nickel trend is +100.0/100 indicating a positive trend. Nickel momentum exhaustion is 2.13416 indicating Nickel is oversold.Nickel RSI is 59.5725 .

Nickel Chart

Nickel

Nickel Statistics

MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the Nickel. Click here to explore the financial factors monitored and their current signals.

Click here to explore the methodology used for estimating the Nickel trading signals presented in the Nickel statistics table.

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Nickel NL 18595 1 1 2.13416 59.5725 0.13 2.89 11.55 0.2553

Nickel closed at 18595.0 on 23 January 2021. Nickel trend was last calculated at +100.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Nickel momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. Nickel momentum exhaustion is 2.13416 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Nickel is oversold and a possible reversal is imminent. Nickel RSI was last calculated at 59.5725. Nickel moving averages were last recorded as follows: 1-month moving average: 16981.6 in an uptrend , 1-quarter moving average: 16144.5 in an uptrend and 1-year moving average: 13876.1 in an uptrend. Nickel annual return was last recorded at None%, daily return was last recorded at 0.13%, and weekly return was last recorded at 2.89%. Nickel histrorical 20-day volatility was last recorded at 29.9085%, Nickel alpha None, Nickel beta None and Nickel maximum drawdown was recorded at None%. MacroVar models monitor Nickel statistics based on historical data since 1970.

Nickel Factors

Nickel

Factor Symbol Last Value Predicted Value R2 MacroVar Signal
Global PMI Y/Y vs Nickel Y/Y NICKEL.FACT.GLOBALPMI

Nickel Trading Signals

MacroVar estimates the following signals: Nickel momentum, Nickel trend, Nickel oscillator, Nickel RSI and Nickel returns.

Nickel Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarNickel momentum signal ranges from -100 to +100. The Nickel momentum signal is derived as the mean value from 4 calculations for the Nickel. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Nickel return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Nickel NL momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Nickel momentum signal moves from positive to negative value or vice-versa.

Nickel trend

Nickel trend signal ranges from -100 to +100. Nickel trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Nickel Closing price vs Nickel moving average (MA) calculation: If Nickel is greater than Nickel MA value is +1, else -1, 2. Nickel Moving average slope calculation: if current Nickel moving average is higher than the previous MA, Nickel upward slope +1, else -1
Nickel trend model can be used as a trend strength indicator. Nickel trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Nickel trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Nickel 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Nickel is in an uptrend when Nickel price is higher than the 52-week moving average and the Nickel 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Nickel oscillator and Nickel RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Nickel oscillator

The Nickel oscillator estimated by MacroVar is the z-score of the current Nickel price versus Nickel 1-year simple moving average price. The formula for the Nickel oscillator is:
Nickel oscillator = (Current Price – 250 trading days Nickel simple moving average price) / (250 days Nickel price standard deviation)

Nickel oversold conditions
Nickel is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Nickel is oversold it is often due for a rebound. Values of the Nickel oscillator lower than -2.5 signify oversold conditions. It must be noted that the Nickel oscillator must be analyzed ibn conjunction with the rest of Nickel quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Nickel RSI.
Nickel overbought conditions
Nickel is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Nickel is overbought it is often due for a correction. Values of the Nickel oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Nickel quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Nickel RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Nickel is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During Nickel uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Nickel returns

MacroVar calculates Nickel returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Nickel returns = (Nickel Closing Price – Nickel Previous Price)/(Nickel Previous Price)

Feedback
Feedback
How would you rate your experience?
Do you have any additional comment?
Next
Enter your email if you'd like us to contact you regarding with your feedback.
Back
Submit
Thank you for submitting your feedback!