End of Year Palladium Bull Run \o/
From the current notation, I see this leveraged ETF on Palladium rising approximately 45% until the end of the year. The reasons are as follows:
So, we could get ready for rising prices in Palladium!
- Fundamental Factors: With increasing sanctions on Russia, one of the main exporters of palladium, global supply may become constrained. Furthermore, inflationary pressures might drive commodity prices higher.
- Technical Indicators: The Palladium chart has recently formed a higher high, and a higher low appears to be developing. The price has crossed above the 200-day SMA, and now the 30-, 50-, and 200-day SMAs are bullishly aligned.
- Seasonality: The seasonal strength in
XPDUSD is expected to begin the week after next.
So, we could get ready for rising prices in Palladium!
Trade active
Looking at the PD1! chart - there is possibly some further room to the downside if this ABC correction plays out:Trade closed manually
Wrong timing. Have frozen too much capital here. Waiting for a better entry time. But the bottom could be already in.
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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.