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BUBBLY
Comment:
would look for a retest of the ascending wedge at 1240 for targets under 900
Does it mean the next target be in the $200 range? Does it have any bearing to any economic cycle worldwide? Why this surges when everything industrial metal and China cycle goes down?
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@dshen1, there are many targets between here and $200 if this turns bearish, which I can show on weekly an daily charts. It *should* move in a correlated fashion with auto stocks, but apparently there has been a physical supply shortage for this metal, causing the price to skyrocket above and beyond the other metals. This is either a canary in the coalmine showing that the other metals are similarly undervalued, or palladium will catch down when suppliers bring forth more supply to sell at these high prices. we can only watch the charts for moves and their confirmation unless we have further insider knowledge
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