Goldman Sachs recently indicated USD 18,500 per metric ton as its target price for nickel by the end of 2026. However, in the event of significant export disruptions from Indonesia — considered an extreme scenario — prices could gain additional speculative momentum and potentially test new local highs near USD 20,000 per metric ton.
At the moment, nickel is trading close to the 38.2% Fibonacci retracement of the latest upward impulse and opened today’s session with a bullish price gap.
Source: xStation5
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