littleriver

GANN PALLADIUM DAILY

NYMEX:PA1!   PALLADIUM FUTURES
137 3 0
This chart is again more Gann Fan study. The chart is composed of more fans than I care to explain. However , the important thing to be drawn from this chart is the purple band. I know I could just draw a trend line and be done with it but the fans really give a visual representation of what a trend line really is and also help one judge the strength of that trend line . The purple band ( trend line ) is very wide and quite strong. After palladium             price fell below the purple band mid 2012, it has tested the purple band twice and failed twice. We are now setting up for a third test of the purple band. Fail again and the trend will most likely be down. Cross it and the price may go much higher.
What is the huge bar on Friday? is it a mistake?
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I think so . last spot price 749.08. What do you think of the purple band?
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Purple band seems indicating the trend but i don't see any entry points at the moment
snapshot
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