End of Year Palladium Bull Run \o/
Updated
From the current notation, I see this leveraged ETF on Palladium rising approximately 45% until the end of the year. The reasons are as follows:
So, we could get ready for rising prices in Palladium!
- Fundamental Factors: With increasing sanctions on Russia, one of the main exporters of palladium, global supply may become constrained. Furthermore, inflationary pressures might drive commodity prices higher.
- Technical Indicators: The Palladium chart has recently formed a higher high, and a higher low appears to be developing. The price has crossed above the 200-day SMA, and now the 30-, 50-, and 200-day SMAs are bullishly aligned.
- Seasonality: The seasonal strength in
XPDUSD is expected to begin the week after next.
So, we could get ready for rising prices in Palladium!
Trade active
Looking at the PD1! chart - there is possibly some further room to the downside if this ABC correction plays out:
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