An idea suggesting bull continuation for palladium
Price can be seen to be sitting right on 4.618 of a trend that was drawn within the bull structure
This is a possible recovery point
It also aligns nicely when a trendline is drawn across the top of the two circles, providing a possible target
The green lines are strong support areas if the bull idea does not...
What is PALL ETF?
PALL is first in the space that focuses on palladium exposure in an ETF. The fund tracks the movements in palladium spot price, by providing focused exposure to palladium held in JPMorgan vaults in London and Zurich. ... PALL is structured as a grantor trust preventing trustees from lending the underlying metal.
Palladium - Monthly chart is making a come back after falling off the cliff in the past few months. The drop can be viewed as a much needed correction in the overall bullish trend in the metals market. Price action is telling me that palladium prices have found the floor and now price looks set to bounce back up to possibly new highs in the next coming months to years.
Idea for palladium
A bullflag has formed just below a key fib level
This will likely break the level and push it higher
The open moving averages is a very bullish sign as seen in the comparison to BTC during the 2017 bull run
Previous thoughts on Palladium
I'm showing you how my very profitable Palladium USD strategy worked out very well :)
Check out how this system nailed the perfect entry for XAU USD ( Gold ). Press play to check this Ground-breaking result!
*Richimoku ( Advanced Ichimoku Kinko Hyo with 4 Clouds! )...
Trading in middle of 1 - 1/2 Gann structure, a bullish scythe can be observed however it doesn't look that strong, do divergences continue through price lines? just curious. Clear fractal can be observed with these bearish divergences. Best to go long in this scenario, major precious metals will see large increases with global uncertainty rising.
As a rule of thumb you shouldn't call tops or bottoms, react to change. However ima give it my best shot for fun. A bullish divergence can be seen for Palladium on the RSI, which has lead to a large bull run comparable to the initial bull run seen, will this come crashing down like the fractal predicts? I'm no Nostradamus but it would make a hell of a trendline....
Looking for further upsides once symmetrical triangle completes final downward wave, breakdown of triangle leaves us with a target at the grey EMA level, which is still very bullish above the parallel channel.
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.