/PA is in a bad shape at this point.
We had VTL Break , cycle low violation making lower lows and all it has achieved so far in this rally phase is rally sending it backs to the 38.2-50% fibs resistance levels.
We are creating a left-hand translation in this cycle , and it all projects to lower lows into July/August period.
It could potentially be forming a...
Dec Palladium creating a bearish flag. Possible pattern bullish Gartley. Downside target S1 at 880.80. Palladium is also under the 20 day moving average and now using it as resistance. Until a break and hold back across the 20 day, this is bearish. Overall this market continues to trend up.
The picture in the palladium is bullish.
Applications:
The largest use of palladium today is in catalytic converters. Palladium is also used in jewelry, dentistry, watch making, blood sugar test strips, aircraft spark plugs, surgical instruments, and electrical contacts. Palladium is also used to make professional transverse (concert or classical) flutes. As...
RSI divergence here is quite long term but it suggests to me that a pull back is due so that we may see a further fail of the ATH level. If this is the case I'd expect to see a return to the bottom of the channel & bounce back higher from there.
September Palladium is showing some signs of more upside in a turn around at 839.4 rejecting a fall to 820. Upside target is 878.05 if bulls can put Palladium above the 20 day moving average at 853.2. Looking for a double top outcome at 897.8.
Palladium reaches the former resistance at 830 USD. As long as price stay above 820 USD we have a good chance to reach 910-930 USD, the next resistance area.
Palladium hat im Mai deutlich Gas gegeben und ist über das April-Hoch gestiegen. Der alte Widerstand ist nun Unterstützung. Solange das Edelmetall über 820 USD per Tagesschlusskurs bleibt, stehen die Chancen...
Looks like we have double top formation in delopment.
Curremt price action indictaes we have had breakout of neckline and retest from bottom which is good sign for sell entry..
A great performance so far for Palladium; price momentum has slowed down around new tops and price twice found resistance at 891. Currently buying pressure building up again? Or, will we see a retracement back from here? Next Fibonacci target a long way away at 1038 (year end target?) - Platinum may have something to say about that! If price fails here, support at...
September Palladium is building out a bullish Shark pattern. A downside target of 845.90 might be Wednesday's play. If this can be achieved 827.20 would be a secondary target. Bulls may make another play for 890 or above before another move downward though.
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
