It is no secret that Palladium is one of the biggest winner of the last 3 years. It's long term chart shows that there is even great upside potential. During 1996 - 2001 Palladium made a +879% rise before it consolidated for more than a decade.
Palladium investors eye a similar pattern. The strongest reason behind this is the Palladium-to-Gold ratio. In 2000/2001...
Here is My Day View In Palladium with the Target on 1288 (Day FIBO 0.618 Retracement)
If you have Missed my earlier Post on Calling Short of Palladium on the Weekly FIBO Level Hit and Revert.
Please open my earlier Post..
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Palladium Peak Hit.. Looking For Short on 4H with HEAD Formation
Looking at Long Term Weekly FIBO 1.618 level had been hit, and now shorten 4H Head formation is confirmed.
Looking at Short at this level and Stop above the Weekly FIBO 1.618.
Big Potential down side Reward compare to Stop Level.
Trading Indicator: Ichimoku Cloud
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 a sub 4...
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.
Automotive - 53% (used in catalytic converters that makes car exhaust less...
Palladium is already 3 years in huge uptrend and we didn´t see any correction down almost for 7 months. We can cleary see, that volume on sell was recently higher then buying volume so I think we will see double top and then we should AT LEAST test local support at 1270, but I think we could go much lower.
Palladium is mainly used in catalytic converters in...