As explained in a previous study, Palladium should be the winner of the next few months among top commodities
. The reason that the current 1D Channel Up ( RSI
= 59.618, MACD
= 11.640, Highs/Lows = 7.4335, B/BP = 20.3740) hasn't moved any higher is the general selling pressure on the metals sector during the last few weeks. This has the potential to cause another week of consolidation but then we expect a new Higher High at 1,180.