The world's largest producer of nickel and palladium has had rather lackluster performance in 2023 advancing half as the general Russian Index. And still I cannot get over his accurate price structure that hints that better days are potentially ahead.
I want the price to start forming the right side and later the handle of a cup, and break out above important Sep'22 and Sep'23 high - 17240 area. If price will not be able to hold Sep'23 15730 low, I would want the area above 15250 and 200D line to act as support. Bellow this levels the analysis is to be considered wrong and invalid.
Trading thesis: cow-boy type longs (higher failure risk) may be considered above 16430 area with 3 and 5% stop levels.
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