Short Palladium
Updated
I have nothing much to say in these kinds of graphs
With auto industry falling, global economic slowdown (its exaggerated but it is happening for sure), and consumer spending and industrial manufacturing falling, I think palladium might be getting exhausted with this rise.
Palladium is used mainly in 4/3 way catalytic converters along with rhodium.
Yes they are rare metals and found mostly in russia and south africa, but with auto demand falling, i dont see a reason why the demand should not fall
Technical indicator - Overbought
Short palladium 1780
Tp1 1750
Tp2 1710
With auto industry falling, global economic slowdown (its exaggerated but it is happening for sure), and consumer spending and industrial manufacturing falling, I think palladium might be getting exhausted with this rise.
Palladium is used mainly in 4/3 way catalytic converters along with rhodium.
Yes they are rare metals and found mostly in russia and south africa, but with auto demand falling, i dont see a reason why the demand should not fall
Technical indicator - Overbought
Short palladium 1780
Tp1 1750
Tp2 1710
Trade active
First Take profit is quite close 1750! Need to be a bit patient :) Good luckTrade active
TP1 was hit and we need to wait a bit more TP2, since palladium prices have recovered. I have opened another short! Tp agains set to 1750Trade closed: target reached
Both TPs Hit again. Closed the trade with a nice 5% profit
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