Palladium. What's happening?

TVC:PALLADIUM   CFDs on Palladium (US$ / OZ)
Recently Palladium has been going through a region of potential conflict.

The yellow channel lines represent the region that Palladium was trending between during the 2016 and 2017 period.

The green channel represents the region that Palladium has trending between since August 2018.

The important 1.618 Fibonacci line generated from the peak on 18th Jan 2018 and Low on 22 Jan 2018 has also been added.

The rising green channel form August 2018, generated as a result of the undersuplied demand for Palladium, met its first hurdle at the start of January, the 1.618 fibonacci. Added to this, the price of Palladium reached this location at the same time that the lower of the yellow channel crossed the Fibonacci line. This was an important barrier to break and could have been the region that Palladium could have reversed. But the fundamentals were too strong. After a short periof of riding the dual lines Palladium finally broke through and shot up to the upper of the green channel where it settled back to the now support lines.

At this point Palladium was either going to continue following the green channel or revert to the slower rising yellow channel. Initially Palladium bounced slightly off the upper yellow/green channel combination before breaking through on the second attempt.

Having broken through this line, Palladium is now likely to use the upper yellow channel (not breaking below 1500) as a support line and then continue along the green channel.
Comment: Longer term update.
After continuing some consolidation around the yellow channel. Palladium has risen back to the green channel and recently broke through. This is only good for Palladium as the signs are that the demands are not reducing. Supply is still not matching demand and the price will continue to increase till demand reduces.