Pall has seen a major bull run lately. Volume is declining. Divergence is forming but has bounced previously. I understand that scarcity of this metal but it needs a healthy pull back before continuing further. Additional real use and applications for this metal would help boost the next leg up.
Looking forward on decline in Palladium price action. Gold - Palladium spread is at the major support since 2002.
Entry plan is based on the palladium head and shoulder pattern . I'm waiting and watching for price action to signal a top near the dashed line (drawn from left shoulder's high). Ideally we get some deceleration with a doji candle followed by a high test candle to form the right shoulder and signal a reversal to the downside. The bull cycle counts are...
Palladium seems to be hinting at a high within the next few months which would form a right shoulder within this head and shoulder pattern. Checkout the full analysis: patstrades.com
After 7 red days in a row & 3 red weeks, Fri saw an inside/doji HOD @ $660.35 that broke to the upside on the open last night. In addition consolidated with a higher low on the Daily $652.15 and had previous support at that level in Sept I am trying a swing for several days/possibly weeks, targeting 20DMA for starters @ $719.74 and will re-assess PA at...
Palladium is offering great potential here, with odds of getting you into a long term uptrend if you go long next weeek. Risk is a drop under 616.16, so buy dips and add on a breakout of last week's high with the same stop loss. The long term chart shows potential for a quarterly/6-month timeframe uptrend signal, so this makes Palladium particularly...
Personally, Rick Rule is an investing hero of mine, and I hang on his experience and follow many of his insights. This is so oversold, and PM's are about to turn the corner. As Japan does, so goes Europe and the US... we are all about to embark on endless QE as the deflation wave begins the prelude to the hyperinflation wave that will be coming in the years ahead.