Very interesting market Palladium. Can make a lot of money fast, or loose it all. Been watching this for a couple of weeks now. If you don't know, Palladium is used in catalytic converters. Since the drop in oil prices for 2016, the car industry have seen an uptrend. 2017 may shape out that same way as there is too much anxiety that the OPEC agreement won't amount...
May Corn fought back after Trump called the president of Mexico to ease tensions after tweets. This market is above the 20 day moving average. Last 3 candles are rejecting lower prices. Mexico is a large buyer of US Corn, so if these talks falter, Corn may continue downward. We could also be looking at a head and shoulders pattern. Neckline coming in at 360'6...
There is a large head and shoulders developing on the USD index that should in the coming weeks propel the AUD, CAD, NZD, BPD, EUD, upward. The left shoulder and head have been created. Looking for the right shoulder in the next two weeks. Elliotwave was breached in the last two days by having position 4 enter position 1s territory. Gartley pattern still intact....
The head and shoulder pattern is now complete. Now we are waiting for USDJPY to come back the the neckline. We wait for a confirmation before entering the trade. Alternatively we can enter the trade at 117.820
The Head&Shoulders on Chevron Corp is still valid, until the rejection level is breached. Although the Throwback faltered, which has sent the equity towards the rejection level, breaking out of the Neckline, will send CVX seeking 77.31, with 82.73 as a primary objective.
Sell on breakout. Good Luck!