XPDUSD (Palladium) correction begins. If you look at the W1 timeframe, you can see that the palladium has done a very accurate 2x fractal copy for 10 years. (I am absolutely fascinated by such charts. We assume that the future is invisible, everything moves at random. There is a very regular engineering precision curve here. But let's return to the analysis. My assumption is that the exchange will continue to do 2x fractal copying. This means that the construction of a nearly 20% correction channel is now underway. The target price is 2180usd. Note Automated trading is now over 60% in stock exchange trading. As a technical engineer myself, I use analytics systems that are also used by stock market robots with artificial intelligence.
Apparently a new high have been formed with high optimism, expecting price to re-test some support level before testing the high again. First support is obviously at 2270 circa. If this is violated, then 2180 or below will be next in line. Great job!!!
meszaros
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@BullBearMkt, Thank you very much for your comment. I agree with you. In the long run, I'm very optimistic about the commodity market. Gold, silver, palladium platinum ... I take long positions in a longer timeframe.