Palladium: This precious metal has been stalled. Soon will rise?
I favor we are now in a consolidation triangle. Often (not always) there is a Fibonacci relationships between the legs. In this case the '"c" on the daily chart is .5 x a. If e is .5 x c then we get the top of the target chart given. When the target area is reached and we get a price action sign of possible reversal I will go long.
Notice the positive reversal in the weekly RSI (RSI gets lower but the price stays up).
Process your way. If correct often there is a rapid rise out of the triangle.
Notice the positive reversal in the weekly RSI (RSI gets lower but the price stays up).
Process your way. If correct often there is a rapid rise out of the triangle.
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.