Palladium: Early Bird? 🐦Primarily, we expect Palladium to move downwards once more to dive into the yellow zone between $1176 and $1088. There, it should finish wave v in green as well as wave (b) in blue before taking off in the direction of $1577. However, there is a high 48% chance of the metal being an early bird. In that case, Palladium would have already concluded wave Alt.v in green and would thus directly start the ascent, skipping the yellow zone.
Palladiumfutures
Palladium Futures (PA1!), H1 Potential for Bearish MomentumType : Bearish Momentum
Resistance : 1989.0
Pivot: 1954.5
Support : 1887.5
Preferred Case: On the H1, price is moving below the ichimoku cloud and along the descending trendline which supports our bearish bias that price will drop from our pivot at 1954.5 in line with the swing high resistance to the 1st support at 1887.5 in line with the swing low support, 127.2% fibonnaci extension and 100% fibonacci projection .
Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 1989.0 in line with the overlap resistance and 61.8% fibonacci projection.
Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
PALLADIUM AnalysisAn idea suggesting bull continuation for palladium
Price can be seen to be sitting right on 4.618 of a trend that was drawn within the bull structure
This is a possible recovery point
It also aligns nicely when a trendline is drawn across the top of the two circles, providing a possible target
The green lines are strong support areas if the bull idea does not come to fruition
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*Kumo Waves (Indentify divergences, trends, investor sentiment.
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Calling Tops In a Bullish MarketAs a rule of thumb you shouldn't call tops or bottoms, react to change. However ima give it my best shot for fun. A bullish divergence can be seen for Palladium on the RSI, which has lead to a large bull run comparable to the initial bull run seen, will this come crashing down like the fractal predicts? I'm no Nostradamus but it would make a hell of a trendline. Return to the mean channel is likely, eventually.
$PALL - Time to Take Some Money off the Table?Palladium has had a fantastic run for 2019 so far, primarily driven by declining global supplies mixed in with rising global demand. In fact, as a result of this trend, the metal has been up 24% so far year-to-date.
However, despite this the stellar trend, recent price action has shown that the rally may be running out of steam. As can be seen, though the price has risen to a 2019 high of $151.35, its technical indicators have failed to follow suit. The SMI and RSI are currently showing negative divergence with $PALL price, as it appears that momentum is coming out of this rally.
As a result, though we think the palladium supply shortage will continue, the $PALL rally is looking a little stretched at the moment. Thus for investors who are currently in $PALL, we would recommend to take some money off the table, while those looking to jump in should wait for a pullback.
PALLADIUM FUTURES MARCH 2019 (PAH19) Palladium futures are moving in an ascending channel, making higher highs and higher lows. It should be safer to only place buys, as sells may be short lived. However, feel free to play the tennis game inside this channel.
This should be an easy one. Do remember that metals are quite expensive to trade so go easy on the lot size if you have a small account so that you do not get a margin call from your broker.