Possible end of ABC(DE) correction wave - very bullish pendant!
After a long bull run, Palladium had a much needed correction. Upward price movement could resume soon to escape the bullish pendant or it could test 200MA (roughly 61.8 fib level) before leaving the pendant.
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Great movement out of downward pendant. I can see 1.618 Fib level being reached after a few months.Trade active
I see further upside after a slight correction (due to oversold RSI).Note
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Will uptrend continue?
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I think it will respect the pendant if it bounce off that lower support, so far looking like it could:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.