MARKET TALK: LME Nickel S/T Technicals Weak -Standard Bk

LME nickel's failure last week to breach previous record high of $34,950/ton has resulted in short-term technical weakness that could hamper return of upside momentum, says Standard Bank; still, adds aggressive selling unlikely, with LME nickel stocks down nearly 19% (at 5,406 tons) since start of year. Says primary bull trend prevails, with upside target $36,000 and first important support level at $28,800. LME 3-month nickel last at $33,670, +$70 from PM kerb.