Palladium about to explode!
Updated
Palladium price action about explode outwards and upwards from the multi-month pendant that's been formed. Fundamental short supply/healthy demand coupled with technical positive RSI divergence and strong pendant pattern indicates a strong move to somewhere between the 1.618 and 1.786 Fib levels.
Trade active
It's escaped! Off to the 1.618 Fib I expect:Trade active
Bouncing off support.Trade active
Parabolic move to 1.618? Momentum is very strong on RSI and has exited channel. Expecting a retest of channel before final explosive move to 1.618 and maybe beyond?Trade closed: target reached
I sold at 1710 after RSI had peaked above 70 and came back down. Technically, it was a good time to sell. Boy oh boy I wish I had held onto this one. It actually started its parabolic move at the 1.618 level.
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