captain_smollett
Long

PA1. Palladium looks like a solid Buy option

NYMEX:PA1!   PALLADIUM FUTURES
Palladium futures             are in a corrective Wave C according to my Wave counter. Broke Daily 200 MA and 200 WMA and looks like now have a clear path forward. Daily RSI may be slightly overloaded so there may be a short correction after the immediate ascending but the ending target of 680 figures looks very reachable.

On fundamentals, Palladium             hasn´t forwarded the Gold             rally therefore has a similar or bigger room to run. Also, looks like there may be a temporal shortage of a supply for this metal: http://www.metal.com/newscontent/90545_supply-demand-fundamentals-gradually-tightening-for-platinum-group-metals

Buy: at current levels
SL: 580
TP1: 620
TP2: 650
TP3: 680
Trade active: Long moved to profitability
Comment: Moved 24 figuresd in 2 days
Trade active: Nice and solid movement up! Took first profits at 630. The quote may correct during next days as it is quite overbought but I expect it to keep moving up during next weeks.

Revised targets:
TP2: 680
TP3: 730

Please check the chart below
Trade closed manually: Expected a bounce down to 615 but the quote kept running. Therefore, 12345 setup wasn´t the valid one and that was "only" an ABC movement.

Got some nice profits from it! Following this metal now for forther trades
Comment: If US Dollar starts to decline, new longs are very welcome next week!
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