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Nickel Seen Falling Toward Four-Year Low: Technical Analysis

Nickel, the worst performing industrial metal on the London Metal Exchange this year, may extend its decline toward a four-year low of $13,200 a metric ton, according to technical analysis by Societe Generale SA.

Nickel formed a so-called bearish channel as it retreated from a 10-week high of $15,001 on Aug. 16. The decline took prices below a support line drawn from July 9, when it reached a four-year low, at about $13,850 to $13,800.