Palladium had a great run the past month after about a year of consolidation. There is currently very strong upward momentum testing resistance at ATH. As you can see, the price is also on a rising wedge and hence a correction is imminent. I expect Palladium to retest 2850-2870 at least once more before moving lower to its new support at the 2680-2700 level.
Note: I'm currently long Palladium with average buy price of 2660. My trail stop is currently set at 2772.
Note: I'm currently long Palladium with average buy price of 2660. My trail stop is currently set at 2772.
Comment:
trail stop triggered @ 2770.50 . Looks like this is getting a correction sooner...