Seems outlandish, just from a pattern perspective
Updated
Fundamentals of Pt vs Pd history would project that industrial users switch to the lower priced commodity since they offer relatively the same physical properties (i.e., Pd $2100 v. Pt $900). Now add the long-term Elliot Wave chart pattern and the electrification narrative and there certainly can be said that there is a confluence of indicators. I know the wave analysis results in a crazy high Pt spot, but we have seen crazier scenarios play out.
Note
Of course, I was tempted to ignore the 2008 crash and draw only two waves on the chart, anticipating that we are only at the beginning of the largest Wave-3 currently. Either way, hold on to your hats if this is anywhere close.
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