Wednesday, 25 August 2021
3:39 AM (WIB)
Technical Analysis
I’ve been watching and trading Palladium in short time trading session. I was curious with Weekly and Monthly trading session, and found some very important clues about Palladium dynamic movement.
Strangely, since 2016 Palladium MACD lines always running and fly high above 0. And hard to see the Lines fall below 0. of MACD lines. This indicating Palladium have very strong of Bullish movement since 2016, or $524. Until it crashed from $2884 into $1500 area. From the crashed, Palladium developing Ascending Parallel Channel with top of resistance at $3000 area. And then fall again into $2258, which is the lowest support of ascending channel. Meanwhile, the Fibonacci Retracement show about 0.5 or 50% was the target from the Traders and Investors.
Although Palladium is trading inside the ascending channel, there was a sign of downtrend lines that could lead the price into the 2nd very strong support at $1500 again. While Monthly trading session show Palladium is on downtrend with Bears control in Weekly and Monthly frames. The downtrend resistance seems hard to breaks up by Bulls. This because the top of resistance is near $2565 area, or near below 0.236 F / 0.786 F.
For the continuation of downtrend, it has to breaks down the lowest support lines of ascending channel. So, in my view Palladium now trading from 0.236 F – 0.382 F into 0.5 F. With more possibility downtrend continuation.
Keep watch and keep notes.
Best regards,
RyodaBrainless
“Live to Ride and Ride to Live”
3:39 AM (WIB)
Technical Analysis
I’ve been watching and trading Palladium in short time trading session. I was curious with Weekly and Monthly trading session, and found some very important clues about Palladium dynamic movement.
Strangely, since 2016 Palladium MACD lines always running and fly high above 0. And hard to see the Lines fall below 0. of MACD lines. This indicating Palladium have very strong of Bullish movement since 2016, or $524. Until it crashed from $2884 into $1500 area. From the crashed, Palladium developing Ascending Parallel Channel with top of resistance at $3000 area. And then fall again into $2258, which is the lowest support of ascending channel. Meanwhile, the Fibonacci Retracement show about 0.5 or 50% was the target from the Traders and Investors.
Although Palladium is trading inside the ascending channel, there was a sign of downtrend lines that could lead the price into the 2nd very strong support at $1500 again. While Monthly trading session show Palladium is on downtrend with Bears control in Weekly and Monthly frames. The downtrend resistance seems hard to breaks up by Bulls. This because the top of resistance is near $2565 area, or near below 0.236 F / 0.786 F.
For the continuation of downtrend, it has to breaks down the lowest support lines of ascending channel. So, in my view Palladium now trading from 0.236 F – 0.382 F into 0.5 F. With more possibility downtrend continuation.
Keep watch and keep notes.
Best regards,
RyodaBrainless
“Live to Ride and Ride to Live”