@Mdotee., I think 9000 is pushing it a bit :-D. But there is a realistic possibility of 5000 if certain scenarios play out on the demand side.
Mdotee.
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@Scottman72, was just =jokes :) . @sharktrade , do you think we have a bear trade setting up here?
Scottman72
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@Mdotee., not yet.
The fundamentals are too strong. Particularly as the Russians have placed a temporary ban on precious metal exports till later this year. I am expecting Pd to continue to grow now it’s at the lower side of its trend range until it reaches the next resistance point. The next resistance is around 1640-1660 region. This could be a very strong resistance as there are a few fib ratios lined up here.
It will be interesting to see what happens but even if it drops again it won’t be a major drop it will be just a drop within the trending range limits. Once above this resistance 1800-1900 is the next region to resist.