Imagine you had held onto this metal since Nov 2008 till now, you would have made 1200% return on your capital. Go take a look at the weekly chart and you can see its parabolic move, hardly much correction along the way.
Again, this is a counter-trend strategy, a short term trading set up at best since nobody can tell you where is the top of Palladium.
For now, I see some resistance at 2145 level. 9 & 10 Jan 2020 candles were a signal and the subsequent bullish candles are getting shorter and shorter, signalling the bulls are exhausted. They need a rest or correction.
The aggressive sellers can sell now at 2145 or wait for it to break down the support at 2109. You can also wait for it to break down from the bullish channel for a higher safety of margin.
Trade safely
Again, this is a counter-trend strategy, a short term trading set up at best since nobody can tell you where is the top of Palladium.
For now, I see some resistance at 2145 level. 9 & 10 Jan 2020 candles were a signal and the subsequent bullish candles are getting shorter and shorter, signalling the bulls are exhausted. They need a rest or correction.
The aggressive sellers can sell now at 2145 or wait for it to break down the support at 2109. You can also wait for it to break down from the bullish channel for a higher safety of margin.
Trade safely
Comment:
Oh no. It defy the Law of Logic and continue to charge even higher. Such is the unpredictability of the Market.
