XPD rejected my level nicely, but is now breaking the high in what seems to be an incomplete upward corrective structure. Watch for a potential sell setup at the 1475 quarters level, which is the 27% extension of last correction. Obviously the 1500.00 level is significant also should it shoot to it.
You are probably asking what is palladium? It's an important rare earth metal used in electronics, catalytic converters, dental fillings and other industrial uses. Major mines located in US, South Africa, Russia and Canada. Falls within the same metal family as Platinum. Use cases: Automotive - 53% (used in catalytic converters that makes car exhaust less...
Going to short one of the most bullish charts I have seen recently. I think we're going to get a double top on a way overbought over hyped metal, this should be a really nice trade, we will see.
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.
PLG, They are poised to with the Waterberg Project Probable Reserve: 12.3 Million Ounce Palladium, Platinum, Gold and Rhodium, (4E)* This looks to be a muli year play. The price of palladium continues to rise and become more scarce. Link to Waterberg Project s1.q4cdn.com
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...
Just a quick idea on physical Palladium, which just shoots through the roof, another +7% should be in. Once at top, sell. ;-)
I'll be looking to go short on XPD/USD on Daily and 4 hr to correct the last wave. The 1400.00 level was right above a major area of fib and wave pattern confluence.
=> This is a very important chart update for those following Palladium => Here from an EW perspective the market is starting to near the extension target for the 5th wave ... we know in advance that this will trigger a lot of profit taking as bulls begin unwinding their positions after 3 years from the early 2016 lows. => It's time to stay alert and watch price...
Last year we entered a long trade on Palladium at 1125 USD. Our midterm target was 1350 USD. We have reached our target. However, as I mentioned in my forecast, the longer term targets of the Palladium prices are higher. I called it the “New Gold”. The reasons were very well explained. You can read the forecast PALLADIUM. I wrote that 1350$ is not a dream. The...
Looking forward on decline in Palladium price action. Gold - Palladium spread is at the major support since 2002.
This thing is at or almost at the top. I shorted Friday like 4pm, think there might be more one up if it does ill close and short higher. Each candle is a week. Catalytic converters. Used in diesel cars when the forward way is electric. Just IMO. I am already short at 1305, my book, it has a bit of vig involved like 10 pts so imo pretty good point. I think I am...
Oh looky, 2001 & 2008 had Palladium crash down with the stock market, Platinum went up inversely. I wouldn't short Palladium cuz it's still on a hell of run, but something to watch. Platinum is at major support right now and Palladium is at ATH's......... LONG PLATINUM!
New all time highs. More valuable than gold now. Could double top here, good RRR to take a short. RSI keeps falling
... and it could be yours too! Palladium is at an interesting juncture here. It is worth following. Technically, the outlook is extremely bullish. Double bottom within a double bottom, an enormous consolidation right at the top. This is a platform to launch way higher. I've found big similarities with Bitcoin's price action and patterns of the last 5 years. Some...
Palladium futures are moving in an ascending channel, making higher highs and higher lows. It should be safer to only place buys, as sells may be short lived. However, feel free to play the tennis game inside this channel. This should be an easy one. Do remember that metals are quite expensive to trade so go easy on the lot size if you have a small account so...