Long palladium. Explanations on the chart.
Another evidence for going long is in COT reports finviz.com
Pay attention to commercial hedgers and how previous top/bottoms of palladium coincide with hedgers' bottom/top respectively.
The good thing about palladium - it is not on radar.
Your suggestions would be appreciated.
Palladium futures are in a corrective Wave C according to my Wave counter. Broke Daily 200 MA and 200 WMA and looks like now have a clear path forward. Daily RSI may be slightly overloaded so there may be a short correction after the immediate ascending but the ending target of 680 figures looks very reachable.
On fundamentals, Palladium hasn´t forwarded the Gold...
Palladium is in wave 5 down. From EW analysis the wave 5 does not complete yet. The price will meet high resistance at 539.2~565.6.
If the price rejects from this resistance area, open short position.
Open position when it reiects.
SL at 573.9
TP at 451.5
If the price does not reject from the resistance area, this analysis will be invalid.
Good luck for everyone!
Palladium has a very interesting setup, I'm looking to enter longs in this instrument very soon.
If you can't trade palladium futures, you can trade PALL, the etf. Try to keep risk at 1% per trade.
The entry would be a buy stop confirming the rally, for specifics about entry, stop and trade management contact me privately.
You can trade with your own strategy, if...
We are still below the 1/1 bear Gann line. The January retracement is losing strength and the bear market is ready to resume. Target 400.00-394.25. Probability H.
While other precious metals are in clear down trends since mid-2011, the palladium market has always remains well-bid thanks in part to its relative rareness and the fact that it has similar industrial qualities as that of platinum at a lesser cost. Looking at the long term chart of palladium futures, I get the sense that this metal is getting ready to rally this...
Price fell below the blue line of the major upward projecting fan and the major downward projecting fan today. I have highlighted a couple of potential bearish targets.
The highlighted channels are the reference channels for all clones. Basically when price crosses a channel clone trend line, price will next move to the proceeding trend line where price will test the new trend line. Current monthly candle is painting just across a green channel clone trend line. I will be watching to see if price can hold this crossing.
More fan fare with this one. From a distance it looks real mess but within the web there appears to be a method to the madness. Looking from a distance we have the the two major Fans on the far left of the screen. One projecting up and one projecting down. Currently palladium price is wedged between the last two angles of these fans. Next there are two minor fans...
