Scottman72

Palladium testing upper trend line

TVC:PALLADIUM   CFDs on Palladium (US$ / OZ)
With Palladiums ever increasing price, it is now reaching the top trendline within the range its been trading since August 2018. This will be an interesting point for Palladium , it's fundamentals suggest an ever increasing price for the next year but this doesn't prevent localised trending through trading. The upper trend line at ~$1600 will be a test if this Bullish momentum. Will Palladium break through and back up its Bullish momentum or will it be contained for a short while?
Note, from previous update the green channel is the trending channel from August 2018. The light blue channel and associate dashed inter-channel levels are the resent trend within the August 2018 trend.

Comment: Now that Palladium has taken up position at the bottom of the blue channel, this is an ideal time to buy LONG.