Follow through technical buying after a confident close on Thursday helped push nickel at the London Metal Exchange to a two-week high at 6,935 dollars a metric ton on Friday while the rest of the complex warmed to another relatively positive performance for the equity markets Nickel's break of 6,800 dollars/ton resistance in sympathy with gains in copper and aluminium on Thursday was the initial impetus for the upward move as buy-stops were triggered and steady fund and bank buying throughout the day helped drive the market to the high.Psychological resistance at 7,000 dollars/ton was in little danger of being tested, but this level will be the next target for the market if further gains are to be posted, dealers said.
NSTL
