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PALLADIUM - Analysis.Over 50% of PALLADIUM supply (and its congener, PLATINUM) is used in catalytic converters, These convert up to 90% of the harmful gases in automobile exhaust (hydrocarbons, carbon monoxide & nitrogen dioxide) into less harmful substances such as: nitrogen, carbon dioxide and water vapor. Helpful information about PALLADIUM vs PLATINUM in the car manufacturer market: seekingalpha.com As a primary metal for the automobile industry, particularly in the USA - I believe it's accurate, To say that PALLADIUM is providing a historical evaluation of economical progress in the United States. The main methods of transport (Cars, Trucks, Tractors, etc.) are huge driving forces behind active commerce. Manipulated markets (E.G. Dow Jones, S&P500) do NOT provide correct valuations regarding economical progress, To my knowledge, PALLADIUM adjusted to natural fluctuations as they should appear (without FED interference). Based on bearish sentiment, I expect PALLADIUM to drop to $1,100 & below (alongside #DJI), This is roughly 50% from its previous fibonacci support level as shown in the chart above. Upon further decline, our estimates for opportunities can be more precisely measured: i.pinimg.com Bull Trap has been displayed - Entering return to "normal" phase: static.seekingalpha.com
TVC:PALLADIUM
by AaronHynninen
1
Strong Bearish Reversal for GOLDGOLD is approaching a possible Strong Bearish Reversal. GOLD is inside of a Strong Resistance Zone/Double Top and RSI/Bollinger Bands are indicating an Over Bought Market. Using Fibonacci Retracement, I would place a take profit between the "Golden Zone" (0.50 and 0.618), then I would place Stop Loss right above the previous Resistance Zone. What do you think about my idea? Do you agree or disagree? Let me know in the comments! Much love, - ALPHALICIOUS DISCLAIMER: I am NOT responsible for any trades that you execute. PLEASE use proper RISK MANAGEMENT as markets such as GOLD can be extremely volatile!
TVC:GOLDShort
by alphalicious
4
Gold’s weekly outlook: July 20-24Gold ultimately closed (weekly) above $1800 broadly on account of an ever increasing safe haven demand due to persisting fears regarding global growth and a falling dollar. Coronavirus pandemic still remains the biggest cause of worry as it has led/leading to sizeable and unforeseen economic disruptions across the globe, even as few countries are trying to ease restrictions earlier imposed it is not helping much because on other hand the deeply affected ones are close to reimposing lockdowns again due to uncontrollable increase in infections. Mixed news regarding vaccine ain’t providing much relief either as it is actually creating more anxiety and confusion. Although recent economic data released is not showing the depth of pain this pandemic has cause, it might be thoughtful to assume that the worst is probably priced in which remains the only heartening factor if at all it is true. For gold, a close above $1800 is suffice to path the future trajectory irrelative of the fundamentals and the technicals though both strongly favor higher prices. To watch next week – Earnings season and other important economic data. On the chart – Gold at last closed above the psychological $1800 marking a fresh territorial advancement. This fresh 52 week high closing (weekly) certainly charts out the parabolic move ahead discarding all bearish scenarios. The price is trapped in a band which is likely to break on the upside, a possible gap up might be the initiator for the next move ahead. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1823. If this is crossed it can move towards $1839. And if this is taken out it can rally to $1857. 2. Bearish bets remain out of context after such a close. Bullish view – Bulls comfortably reclaimed $1800 after nearly 9 years which itself is a big ordeal. This close opens up the next leg of upmove which should take the metal to all time highs and possibly even higher as global recovery would remain sluggish until the virus slows down. With $1815 posing a stiff resistance, it could be taken out with a gap up which would trap the meanest of the shorts prompting a ferocious short covering rally. Fundamentals and technicals remain supremely supportive with metal expected to create fresh highs. The close itself is sufficient to suggest what remains in the offing for bears. On larger terms, Gold continues to remain bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1815 for the targets of $1823 and $1839 with a stop loss placed below $1804. Longer term target $1857. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
2
Gold’s weekly outlook: July 13-17Gold finally managed to break past $1800 after a gap of 8 years and 8 months mainly due to increased safe haven demand in a suffocating global situation caused by the raging pandemic which is only getting worse. Geopolitical tensions remain an ongoing concern as the Trade Deal between the U.S and China remains in limbo since the U.S President decided not to go forward with the phase 2 part of the deal. Hopes of vaccine if any continues to remain bleak further adding to the woes. Still, the “denial” remains at large with riskier asset class extending their uptrend and with earnings season on door, it may help paint a better picture about the economy answering much awaited questions regarding the ongoing disparity between the reality and euphoria. Fundamentals and technicals remains strongly in favor of bulls after last week’s closing. To watch next week – Earnings season and other important economic data. On the chart – Gold extended its uptrend above $1800 after a gap of nearly 9 years hitting fresh 52 week highs for closing as well though it failed to have a close above $1800. The psychological number “$1800” was taken out as the metal rose well above but likely a tide of profit booking held it back below during the end of the week. Still gold remains overly bullish with the weekly candle indicating that it has taken out the historical resistance area and is ready to move higher towards the all time highs and maybe higher. We have 2 scenarios- 1. Gold closed above the support, till this is held it can go to $1804. If this is crossed it can move towards $1823. And if this is taken out it can rally to $1839. 2. Bearish bets remain neglected as the support holds except scalp trades. Bullish view – Bulls finally triumphed over $1800 after a long gap as increased fear drove safe haven demand but they failed to close above it. Still, the closing is extremely bullish as historical resistance seems to have been taken out with a certain amount of ease. Also aiding the bulls is a falling dollar which should continue its downtrend as unlimited QE could result in devaluation. All factors in play remain where they were rather the outlook grows only grimmer on account of increased cases and fatalities and dashed hopes of an early vaccine cementing the bullish case. For bulls to continue their march they need to hold the supports while aiming for new highs. Bears failed to keep the trend in their favor making their bets unproductive unless the inverse head and shoulders pattern gets triggered. On larger terms, Gold remains bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1804 for the targets of $1823 and $1839 with a stop loss placed below $1794. Longer term target $1857. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
3
Crude to burn...Crude, having recovered from negative prices, and rallying to 40ish, is not seen to be at clear and present risk of turning over to drop and burn. Recent price action formed an ascending triangle, and the last week of trading sessions were relatively flat. This lack of commitment and momentum is starting to look suspicious. The MACD has a bearish divergence waiting to equilibrate. Potential price breakdown below 39.50 is reminisce of a bear trend forming. Currently, warning signs show of a potential breakdown. 34.50 would be the support if scenario plays out.
NYMEX:CL1!Short
by Auguraltrader
Gold’s weekly outlook: July 06-10Another 52 week closing high (weekly) for gold as pandemic continues to roil the globe with infections surging to record highs in various countries. The onslaught caused by the coronavirus still fails to truly show in the economy as the recent data suggests a miraculous turnaround from the lows that too at a never seen before pace whose gap from reality is just increasing where furloughs / jobcuts, closures and bankruptcies have become a fairly common sight. This mirage or denial mode points toward another forthcoming riskier asset class correction when the quarter numbers start trickling in or the worst might have been actually over but all depends over the thin line of statistics. All in all the pessimistic clouds have been shrouded by the free money euphoria which to a large extent could be just an election gig and reality should bite hard once the event is over. $1800 looks closer than ever as both fundamentals and technicals strongly favors higher prices. To watch next week – Inflation and other important economic data. On the chart – Gold continued its rally as it created another 52 week high on back of gloomier economic outlook and a falling dollar. The closing high suggests that there is still more scope on the upside with other global factors already buoying the price in full force. Chances are there that gold might find its true resistance near $1800 area as seen historically but its all the more bullish if it does and aims for inverse head and shoulders pattern which if charted through will catapult gold prices into another range. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1789. If this is crossed it can move towards $1804. And if this is taken out it can rally to $1823. 2. Short trades still remain colorless as trend remains overly bullish except scalp trades. Bullish view – Bulls registered another high both 52 week and closing as the rush for safe haven continues amidst chaos and uncertainty caused by the pandemic. Fundamentals should remain in favor of bulls for a good amount of time till the virus weakens and things start getting back to normalcy but technically gold nears a crucial resistance zone which if taken out will propel it at an even higher pace. For bulls to keep on the unopposed run they need to take out the critical levels and hold the supports. Bearish bets still remain out of context. On larger terms, Gold continues to remain bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1780 for the targets of $1789 and $1804 with a stop loss placed below $1771. Longer term target $1823. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
11
Gold’s weekly outlook: June 29 – July 03Gold extended its bull run hitting a fresh 52 week high broadly on account of deepening global crisis due to the persistent wrath of the pandemic. The economic outlook gets grimmer day by day as number of infections are surging pretty fast forcing the countries to put a screeching halt to their phased re-openings (of economies). Moreover, the race for vaccine is not look as promising either which is ultimately proving that viruses yet cannot have any sort of vaccines or a singular approach of treatment. While most of the riskier asset classes are in a denial mode, reality for sure has started biting from different angles as their demand is getting sluggish compared to safe havens. Current situation looks ripe for a burst over $1800 as the technical headwind is simply too strong on the upside. To watch next week – Powell and Mnuchin testimonies, Fed meeting minutes and other important economic data. On the chart – Gold registered a new 52 week high whilst having a close at another. This fresh upmove suggests the consolidation has been successfully broken on the upside triggering another leg of sustained run which would this time conquer the much awaited “$1800”. Fundamentals remain strongly supportive for higher prices while technicals point towards an uninterrupted run on the upside. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1771. If this is crossed it can move towards $1789. And if this is taken out it can rally to $1804 and 1823. 2. Short trades seems to have filtered out again excepting scalp trades unless the trend changes. Bullish view – Bulls advanced further making a new high as well as closing at another rather closing above its previous 52 week high making a strong case for prolonged uptrend. The ongoing concerns remain ignited firming gold’s already high demand. Fundamentals continue remain in favor of gold while technicals got even stronger after the breakout from the consolidation making $1800 look closer than ever. Bears look defeated again after they failed to stop the breakout. On larger terms, Gold remains bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1771 for the targets of $1789 and $1804 with a stop loss placed below $1761. Longer term target $1823. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
6