Palladium Target 20 WMA

FX:XPDUSD   CFDs on Palladium
92 0 2
We took the risk to go long as there were several key support zones but price action sliced through and broke lower. Even the 200 WMA did not act as a strong support and the flush came hard on Palladium             . This has certainly damage the chart and the weekly MAs could soon roll over lower (20 WMA already crossed below 100 WMA and 50 WMA could follow suit - potentially create a death cross). In the short term, Palladium             could find support at 690 levels and a corrective bounce may relieve some of the selling pressure. However, the medium term outlook is to sell into the corrective rally.

Corrective Rally
Long at 690-700
Stop 680
Target 750

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