It is no secret that Palladium is on a strong long term bullish trend, and we have discussed this subject on this comparison with Gold where we estimated a target of 1,367 (see the chart below). XPDUSD has even outperformed this target and is currently on a very interesting development where it can turn parabolic towards 1,800. Even if that doesn't...
Trading Indicator: Ichimoku Cloud Resistance: $1560 Support: $1100 - $979 (618 to 786 Fib retracement). This is also confirmed by the Senkou A & B of cloud. Momentum: Stochastic and RSI heavily overbought. A steep profit taking pullback would not be surprising. Trade Setup: Wait for a pullback in Palladium before initiating fresh buys. We are in...
These charts deserve a closer look. :) Platinum / Palladium ratio just touched an all time low. You can see the explosive move up, following the last time the price ratio of these two metals touched this level. Considering the platinum chart on its own... Price recently found support from a ten year old support level... $750. Since then price has mostly...
Just after coiling up, very bullish. You can wait for retest, I will indeed, but, hey!.. this thing could never get back down.
XPDUSD (Palladium) has made a new Higher Low on its long term 1W Channel Up (MACD = 89.310, Highs/Lows = 86.3564, BBP = 189.9320) and due to the overbought RSI = 77.424, it should slow down its uptrend within the next 20 sessions. This doesn't necessarily mean that it has to consolidate sideways, but as it did on the late Oct - lat Nov period, it may rise slowly...
If closes as reversal pin bar will make a good short $PA_F
Fading the fib in supply zone. If bearish pin will stay $PA_F, $XPDUSD
A bearish close will probably trigger the momo divergence $PA_F, $XPDUSD
On this quick comparison we can see how Palladium has outperformed Gold since their recent lows. Although Gold has only managed to grow +7.16% from its recent August lows (1,160) and is way off its annual High (1,366), Palladium has gained +37.96% breaking at the same time its January annual high (1,139.60). Taking into account the very long term bullish trend on...
Haven't figured out a way to trade this yet. I've been pricing palladium against many other assets and do not see a clear opportunity. Going to sit this one out until there is more clarity for the type of trade to structure.
PALLADIUM is in a strong uptrend on daily but it's reaching a potential topping level. I'm expecting a strong breakdown for this rising wedge.
These two markets look interesting together because of the similar price action. Notice how rice was in a descending triangle followed by a breakout. These are typically bearish patterns, but not always, clearly. I believe platinum is in the same consolidation phase before it breaks out. Notice it took rice approximately two years to break out from its established...
Failed rising wedge breakout. Bullish flag . Target $1,000.
Small chance this actually heads all the way down to the bat entry point some $120 away but hey..it can happen! My strategy is to short 791 with stop loss of 801. I will move stops to B.E. at the TP1 of the bearish Gartley and see what happens!
I do not have much doubt that palladium topped against gold in the short term. Though, longer term, things look interesting for palladium against gold and silver - possibly a stronger run higher (or smaller run lower) than both metals.. I am currently short palladium with no position in gold or silver.
While I'm generally bulled up on metals but palladium could be running into a right shoulder