Crazy Sell-off in the Palladium Price since 2022. Over 200%. BUY
Why I think our Buy-setup in Palladium today has no much upside.
We have a bullish Head 'n' Shoulders on the 4HR timeframe. Right now price is giving you an even cheaper entry point before this pops!
So, is there demand for Palladium across the world? Take a read of this article from cmegroup.com
Why palladium matters to the growth of the platinum market
By World Platinum Investment Council - WPIC®
16 Jan 2024
Executive summary
Platinum is a critical mineral for the energy transition, and hydrogen-related demand for platinum is forecast to grow substantially through the remainder of the decade and beyond. Platinum catalysts in the electrolysis and fuel cell markets are expected to account for up to 15% of total platinum demand by 2030, reaching as much as 35% of total annual platinum demand by 2040.
The principal use of palladium in 2024 is in fossil fuel and hybrid vehicles, so the health of the automotive industry and the pace of transition to electric vehicles are the key drivers on the demand side.
From what I read, with electric-cars increasing there is not as much demand for catalyic-converters that are derived from palladium. However, there are other uses for palladium than electric cars and supply chains are continually disrupted by wars such as Russia and Ukraine.
All I see is the huge sell-off. I also see a monthly oversold condition for Platinum .
