Palladium: 2400 before 2021; Strong Bull Throughout 2020
Updated
Palladium has soared over the last little while especially, but even so, over the past 12 months.
My hypothesis has remained correct and will continue to remain correct: as long as equities are bullish, so too, will Palladium. I believe there will be a 5-10% correction sometime in Q1 of 2020 (impossible to know exactly how much), and perhaps another correction late 2020, however, i believe before the end of 2020 Palladium will reach about 2400 which I am predicting as the top for now.
The long-term future of Palladium remains strong, but with any precious metal, you can expect at-least a 30% consolidation level before the next run-up.
Long until Q1 2020
Watch for a short in Q1 2020 (for Palladium and equities)
Long from Q2 2020
Prepare for short and consolidation as 2020 ends
*Note: Chart is not 100% exact but present to show the general trend.
- zSplit
My hypothesis has remained correct and will continue to remain correct: as long as equities are bullish, so too, will Palladium. I believe there will be a 5-10% correction sometime in Q1 of 2020 (impossible to know exactly how much), and perhaps another correction late 2020, however, i believe before the end of 2020 Palladium will reach about 2400 which I am predicting as the top for now.
The long-term future of Palladium remains strong, but with any precious metal, you can expect at-least a 30% consolidation level before the next run-up.
Long until Q1 2020
Watch for a short in Q1 2020 (for Palladium and equities)
Long from Q2 2020
Prepare for short and consolidation as 2020 ends
*Note: Chart is not 100% exact but present to show the general trend.
- zSplit
Note
Just to clarify, above when I call for a "short in Q1 2020" and a "short towards the end of 2020" I'm not talking about a 1% "pullback" or just a 30 or 40.00 drop. Instead rather, I am referring to a 5%+ pullback.The former being a buying opportunity, while the latter refers to a legitimate shorting opportunity.
Trade closed: stop reached
SL at 1900. Short a week or two earlier than predicted. Long trend still in-tact.
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