You are probably asking what is palladium? It's an important rare earth metal used in electronics, catalytic converters, dental fillings and other industrial uses. Major mines located in US, South Africa, Russia and Canada.
Falls within the same metal family as Platinum.
Use cases:
Automotive - 53% (used in catalytic converters that makes car exhaust less pollutant)
Dental - 11% (dental fillings)
Electronics - 15%
Jewelry - 10%
Other -11%
Global car sales have been on the rise and therefore more catalytic converters needed for US, China and India sales. What an amazing run from January 2016 to January 2018 seeing nearly a 3x in price growth in Wave 1. Global US car sales continue to climb supporting a continued need for Palladium.
Next Move: Palladium eyes 161.8% to $1540 and then faces possible correction.
Trade Idea: Take 25%-50% profits when the ADX hits 50 on the DMI. Stochastic and RSI showing sell signals as overbought. If there is a correction we expect there to be strong support at $1100. If $1100 falls the 200 Week MA will be very strong support.
Regards,
Bobby
Falls within the same metal family as Platinum.
Use cases:
Automotive - 53% (used in catalytic converters that makes car exhaust less pollutant)
Dental - 11% (dental fillings)
Electronics - 15%
Jewelry - 10%
Other -11%
Global car sales have been on the rise and therefore more catalytic converters needed for US, China and India sales. What an amazing run from January 2016 to January 2018 seeing nearly a 3x in price growth in Wave 1. Global US car sales continue to climb supporting a continued need for Palladium.
Next Move: Palladium eyes 161.8% to $1540 and then faces possible correction.
Trade Idea: Take 25%-50% profits when the ADX hits 50 on the DMI. Stochastic and RSI showing sell signals as overbought. If there is a correction we expect there to be strong support at $1100. If $1100 falls the 200 Week MA will be very strong support.
Regards,
Bobby