The technical side aligns well, Volume is going up. CCI divergence is strong.
Huge potential upwards, especially long term 10 years. Since the price is very low. I mean, the production costs of palladium are around this level
Palladium ETF better than CFD instrument if you want to capture the full potential.
Said that. This week is full of data, with CPI on Tuesday 12th (tomorrow), so manage your risk accordingly
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Oops, the image doesn't visualize it well. More context:
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Look at volume in NY session for final confirmation. Now still is low but growing
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I hope is a cup and a candle here forming. We are playing against a massive monthly, weekly daily trend. Counter-trading requires patience but we have had good volume in the green side today.
Hello, nice vision. How u about head and shoulders on D1 on Palladium right now? I bought it on the right shoulder. What do u think about first target? I think it's 1135 and the next 1200.
zeroToEdge
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@ssoru1932, I totally agree, I saw the head and shoulders too, and anyway, fundamentally and positioning of the market, looks like Palladium is about to shoot up. I'm more conservative , I will aim for first target 1050 and take some quick profits because cars demand is not the greatest to justify a huge spike, I see palladium going up slowly. I'm looking into diversify into metals (not only metal itself but miners), since all of them are waking up for a new promising cycle with PGM and gold leading
ssoru1932
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@zeroToEdge, Nice to see your vision was very good :) I took my 10%, and i'm working awaiting for 1200.
zeroToEdge
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@ssoru1932, Good one!, The move was so fast and shows huge strength, that if you zoom out, it's obvious that this train is not stopping yet, so you are doing fine waiting for 1200. I still have Palladium in my long term positions, but I closed a leveraged ETF short term position with good profit. if you are into miners, SBSW (Palladium, Platinum, Silver) looks promising. I also follow graddhybpc (google it), it's the one who gave me confidence for this cycle that is starting. Have a good ride!
How u about head and shoulders on D1 on Palladium right now? I bought it on the right shoulder. What do u think about first target? I think it's 1135 and the next 1200.