Palladium has quietly ran up as much as 65% YTD at one point with a likely 'finish' around +53-54%. In my forecast, I believe Palladium will reach roughly 2400-2500 by the end of 2020 with a more aggressive short coming sometime in Q1 in 2020 (Jan, Feb or March) and one later in the year in Q4 of 2020 (October, November or December).
Production relative to demand remains considerably unmatched and this trend will continue through 2020. Because equities will remain at-least modestly bullish in 2020, there is no reason for the automotive sector to drastically deteriorate, and as such, Palladium demand will remain strong despite random bears trying to say otherwise. Moreover, the strong demand from international markets like China and India will push Palladium higher than most people think in 2020.
The overall 'bull run' of Palladium will end once the price falls BELOW $1650.
Note: The dips may be slightly more aggressive than what I have drawn here, however, the overall prediction, trend and timing remain accurate.
Good posts on XPD. Do you think this weeks rise to 2040 is sustainable? Confidence over 2000 seems low. Any chance that XPD will more or less continue through till March or rather expecting a down before that in Jan already?
Yes it is definitely sustainable. I can’t promise you if it rises from here or drops from here because I don’t trade on an hourly interval, but it will continue to rise through 2020 and have pullbacks as it has been but continue to gain further momentum. That being said I don’t foresee a pullback of significant magnitude at this level but it should pullback a little as the. Raider market does in Q1 of 2020.
I focus on macro and microeconomics and the reasons why Palladium rose in the first place remains intact and I don’t see a top in place until atleast 2021.
PaulDeep19131
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“Typo. Response should read: it will pullback as the broader market does in Q1 of 2020”.
ML1999
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@zSplit, Okay, I understand. Thank you for your very elaborate answer. Much appreciated
neca
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My article you intentionally deleted spreading panic on palladium. The price is unfounded only speculations buy.