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Palladium

Palladium Down 9%Palladium is currently taking a dive, and something similar is happening with Gold and Silver right now. The news is likely fueling this and the decline could be short-lived. In April of this year, price had broken out and created a new record high at $3017, hitting the $3000 round number. This psychological level of resistance created an obstacle for price and forced price down. This week, we see a strong bearish move with the next level of support based on this timeframe being the 50 simple moving average. Price has used this indicator as support several times in this stock’s history, so this is the obvious level that price may gravitate towards. Palladium has been making good progress since the 47% decline during the 2020 global pandemic, and this is just another bump in the road that price will need to navigate around. Patience for now as we wait to see how far price will drop and what price will decide to do once it finds support. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
3
Gold, metals and oil are definitely back and looking very strongGold was falling as real yields were going up, but now that that trend has reversed gold is looking better. Gold has successfully broken and retested many key levels + several important moving averages and pivots. In the past I thought 1680 would break even just in the short term and it is still a possibility, but looks less likely at the moment. Currently Gold is at a bit of resistance and could pull back a little bit. The key level is 1980 where it could have a major trap and then a decent correction before going higher. Yes there are some issue with gold too, especially as it is still below its 2011 ATH, but once it starts closing above it again things could change rapidly. Metals overall seem really strong, with Silver gearing for a big breakout although there is still a chance of failure at the resistance above. Palladium still going hard and seems relentless. Copper at its 2011 ATHs still looking decent although it might pullback a little bit. Oil although not a metal, is very important and it also looks extremely explosive. The upside for oil at this point almost seems unlimited. The bear market for oil ended with that insane capitulation where prices went negative on the front month contract. For many reasons the production of oil has taken a big hit and now that demand is coming back, and coming back strong especially due to money printing. So from here Oil could easily hit 100$/barrel by EOY. Point is that inflation is rising, commodities are rising and will potentially keep on rising mostly due to supply shortages, but also due to excess speculation and money printing. Gold might not be the best bet in this situation, but it is definitely an asset to own as insurance. Maybe the downturn in cryptocurrencies also had to do with people switching back to Gold and other assets. Maybe Gold is a signal that something bad is coming and that thing might be high inflation or even bad deflation that could bring issues to the system. Either way dips are for buying in these assets.
FX_IDC:XAUUSD
by BitcoinMacro
PALLADIUM Trade based on the 4H MA200 and the 1D MA200Pattern: Channel Up on 1D. Signal: As long as the 4H MA200 (yellow trend-line) supports, buy the dips. If it breaks potential prolonged sideways action until the 1D MA200 (orange trend-line) approaches. Target: Trade within the patterns that will be formed. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> xBTala --------------------------------------------------------------------------------------------------------
FX_IDC:XPDUSD
by TradingShot
1
Palladium Setting Up To Go LongPalladium had a nice run between 2018 and 2020 with a rise of 245% during this period before the Covid-19 pandemic hit price. From that point, price created an all-time high at the time of £2875, then there was a sharp decline to near the $1500 round number. The round number and the 50 simple moving average cushioned the fall and gave price enough support to find its footing. Price has slowly been climbing back up, using the 50 simple moving average as support along the way, and went on to create new all-time highs last month at $3017. The previous all-time high is below price and has acted as support already and may be the base price needs to help it to continue creating record highs. If price can break and close above the recent high, this would also take price above the $3000 round number and allow us to look for a position in this commodity. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
GRDM -- Massive Copper & Palladium intercept!Grid Metals Intersects 37.6 g/t Palladium and 21.3% Copper in Massive Sulfide Vein at East Bull Lake; Parisien Lake Zone Continues to Expand TORONTO, ON / ACCESSWIRE / May 5, 2021 / Grid Metals Corp. (the "Company") (TSXV:GRDM)(OTCQB:MSMGF) is pleased to report new results from three additional drill holes from the Central Parisien Lake Zone at its East Bull Lake palladium property (the "Property") located near Sudbury, Ontario. Drilling hit multiple zones of palladium-dominant mineralization including a footwall copper sulfide vein containing 1.2 ounces per tonne palladium. Drilling results received over the last ten months combined with geophysical data confirm the presence of a persistently mineralized layer along the base of the East Bull Lake intrusion having the potential to host multiple, near surface palladium-rich copper-nickel sulfide deposits. Highlights Drillhole EBL 21-09 intersected three discrete zones of palladium-rich sulfide mineralization including a footwall copper sulfide vein which grades 37.6 g/t Pd (1.2 oz/tonne Pd), 6.68 g/t Pt and 21.3% Cu over 0.54 metres within a two metre mineralized interval averaging 10.7 g/t Pd and 5.87% Cu. Similar grades are present in footwall copper sulfide veins in major magmatic systems, globally - including both the Sudbury and Noril'sk mining camps. An offhole conductor adjacent to this vein was subsequently detected by borehole geophysics. Drill hole EBL21-07, drilled 70 metres southeast from EBL21-09, also intersected wide zones of palladium mineralization having local higher-grade sections including 1.0 metres of 11.5 g/t Pd from 6.0 metres depth. EBL21-08, the most northerly and westerly hole drilled in the target area, is a 350 metre step out from the main area of drilling. It intersected a narrow, higher-grade section in the Basal Layer (0.75 metres with 4.64 g/t Pd and 1.19 Pt). The area between hole EBL21-08 in the west and holes EBL21-07 and 09 in the east is over 200 metres wide and is centered on a potential north-striking feeder fault that remains to be drilled. Palladium mineralization continues to be associated with an extensive, inclusion-rich gabbro layer that blankets the base of the East Bull Lake intrusion, herein referred to as the "Basal Layer." The Company is now confident in its ability to predict the position of the Basal Layer to depths exceeding several hundred metres across the entire >20 km strike length of the property using a combination of resistivity, conductivity and magnetic survey data.
TSXV:GRDMLong
by wealth_bakery
Palladium 23 Points To Breakout!Palladium should not be ignored even if there are strong moves happening in other markets because this commodity has the potential to trend well long-term. The trend between January 2016 and February 2020 saw a 542% move to the upside allowing for the accumulation of simple profits during that period. As expected, price went into consolidation following such a strong move but within this consolidation period, price has slowly been climbing its way back up. On the weekly chart shown, we can clearly see that price has been using the 50 simple moving average as support to assist it in climbing higher. This week price came close to breaking out above the all-time high at $2875 by just 23 points, so there is good progress since our last post. If price eventually breaks out, we anticipate a strong trend in the direction of the breakout. We will also need to wait for a break and close above the $3000 round number which is a psychological level of support/resistance. Patience for now as we await that breakout. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
Palladium Slowly Waiting For A Break!Palladium failed to hit the $3000 mark during the bull run that ended in early 2020. Price created an all-time high at $2875, which occurred just before the peak of the global pandemic and was followed by a decline. The 50 simple moving average on the weekly timeframe was there to cushion the sharp fall and has been acting as a ladder ever since, slowly helping price to creep back towards the all-time high. The previous trend ran from June 2016 to February 2020, going from $454 to $2875, which was a rise of 540%. After such a big move in a long-term trend, it is no surprise that price is consolidating as it has now run out of steam. We can not sleep on Palladium because it has the potential to trend again once we have a breakout. And usually, when price consolidates for a long period of time, we can expect to see a strong move in the direction of the breakout. Hence, we need to ensure that we remain ready for any opportunity that presents itself. As for now, we need to wait patiently until that breakout occurs and avoid jumping in too hastily. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
Entry points, supports and resistances.For the last published palladium idea: Entry points, resistances and supports. If it breaks resistance upwards, using new support as entry for a sure entry. It is possible to entry on the actual support (S1) and "hope" for a break upwards with a strict SL right bellow range. Risky. But for a scale in strategy, could work. As there is a small RSI divergence (red dotted), support can break downwards to any fib support and ultimately to S2. For future reference.
TVC:PALLADIUMLong
by pikitote