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Palladium

Palladium Resting At The 50 Simple Moving AveragePalladium has seen a strong rise since August 2019 with nice trends ranging from 18% to 38% following periods of pullbacks. This has been an overall growth of 106% over a period of 7 months. As with every trend, there will be pullbacks along the way and we are experiencing another one at the moment. When price pulls back, we always want to look for areas of support that price may come towards. Price usually bounces off areas of support but if support levels are broken it may indicate further weakness to come. Price has pulled back to the 50sma which is currently holding and helping to keep price up. The last time price hit the 50sma was in November 2019 and we saw a strong trend that followed. If price can do the same going forward then we need to see momentum to the upside which can push price above the $2,500 round number. Followed by that we need price to break and close above the current high at $2,875 and the $3,000 round number. If these levels are broken then we should continue to see Palladium soar to even greater heights. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
Palladium Rescued At $2,500!Palladium is proving to be resilient as it is finding strength after a sharp decline last week. The $2,500 round number has come to the rescue for the buyers and it is acting as a strong level of support for price. In January 2020, this round number was acting as resistance and forced price to pull back and now that resistance level has turned to support. The fear of the coronavirus spreading caused wide speculation in the markets last week and Palladium fell by over 350 points. Now that price has found support at $2,500 we are starting to see strength back in this commodity and we just need more momentum to see price push its way above the current all-time high. A break and close above the current all-time high at $2,875, formed on the 27th February 2020, will confirm a continuation of the uptrend. Bear in mind that we have the $3,000 psychological round number not too far above that high. This may cause further resistance for price if it can reach these heights. Our multiple positions are currently still in profit and we are looking to compound once we see another breakout. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
2
Elliott Wave View: Palladium 7 swing Correction In ProgressShort term view suggests the rally in Palladium to 2814.25 ended wave (3). The wave (4) decline in Palladium is currently in progress to correct cycle from May 13, 2019 low before the rally resumes. Internal of wave (4) is unfolding as a double three Elliott Wave structure. Down from Feb 28, 2020 high (2814.25) , wave ((a)) ended at 2610.1 and bounce in wave ((b)) ended at 2740. Wave ((c)) lower ended at 2387.30 which completed wave W of the double three. Afterwards, the metal ended the rally in wave X at 2576.9. It has resumed lower and broken below wave W at 2387.3 suggesting the next leg lower has started. Down from wave X high at 2576.9, wave (a) ended at 2391 and wave (b) bounce ended at 2465.10. Expect Palladium to extend lower towards 2248 – 2311 area to end wave ((w)), then it should bounce in wave ((x)) to correct cycle from March 2 high in 3, 7, or 11 swing before turning lower again. The potential target for wave Y of (4) can be measured as 100% – 123.6% Fibonacci extension of W-X which comes at 2045 – 2146. This area, if reached, can see buyers for further upside or 3 waves bounce at least. We don’t like selling the proposed decline due to the bullish trend in the higher degree.
NYMEX:PA1!
by Elliottwave-Forecast
"The Tesla of commodities" - And it's not gold, iron ore or platThank you China – and no… not for the Coronavirus I’m talking about Palladium… The main reason why Palladium is flying and will continue to do so, is all thanks to regulations taking place in China. We are seeing major industrial demand driven by the expectations that there'll be stricter environmental regulations and standards in China. In fact, they expect production to trail by 1.9 million ounces of palladium this year. That’s an insane 800,000 ounces more than last year. For you to understand why there is an increase in demand for palladium, we need to look at what the main industrial use for this precious metal is. Did you know, two-thirds, or 67%, of all palladium is consumed each and every year from the manufacturing of automobile catalytic converters. What’s important to note is that the palladium - used in the catalytic converter - helps control the harmful emissions and pollution from fuel-powered vehicle car exhausts… And now, with Chinese and European vehicles needing to meet the (China 6 and Euro 6d) legislation we can expect a rise in the global average loadings on gasoline-catalysts. This increase in demand, will send the palladium price even higher. Vivek Dhar, an analyst at Commonwealth Bank of Australia summed it up nicely: "Demand is being driven by environmental regulations, particularly in China, which has increased palladium use in vehicles and should offset any recent weakness in car sales" Right, so we know the big reason why Palladium should continue rallying, but wait until you see this chart… This half-crescent pattern will take Palladium to the moon Looking at the above daily Palladium chart, you can see it’s been moving in a strong uptrend from a low price of $1,460 up to the previous high at $2,530. During this time, it has formed a strong upward (buying) momentum pattern which I call the “Half Crescent” formation (shaded grey). This is when the price moves up at a steep and round angle, which creates a formation that looks like the crescent shape similar to the moon. And now that the price has broken out and above the six-month ceiling level (pink line), tells me that palladium is going to continue to sky rocket. To calculate the next target of Palladium we'll basically use my breakout High-Low calculation… This is a target calculation where I take the price difference between the most recent high ($2,530) and the most recent low ($1,460 and I add it to the most recent high price. Price Target = = (High - Low) + High = ($2,530 - $1,460) + $2,530 = $3,600 This means, we will be able to take full advantage of the palladium price rise while it rallies another $1.070…
TVC:PALLADIUMLong
by Timonrosso
Palladium's Recent Trend Up 26%!The current 26% trend has now matched the trend from May to July 2019 in terms of percentage rise. It still has some way to go before it matches the 38% rise we saw from December 2019 to January 2020. Palladium has been forming a nice strong uptrend with clean pullbacks and smooth periods of consolidation. We are currently experiencing a pullback which could easily turn into consolidation but nothing to be of concern just yet. If we see a deep pullback then the next obvious level of support is the $2,500 round number which previously acted as a resistance zone. Price may not even come this low from where it is now and may just find support around where it lies now. What we are looking for next is a break and close of the current all-time high at $2,842 from 19th February 2020. Even if price breaks above this high, we have the $3,000 round number not too far above which may act as strong resistance as well. Our compounds will take place once price travels above $3,000. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
2
Has Gold Found Its Peak?Gold, until recently has been a slow mover but has now started to gain good momentum. After breaking above the strong resistance at $1,611 on the 20th February 2020, price has so far peaked at a high of $1,689. Whether this high will cause further problems for price is anyone’s guess but as price has started to pull back, a break and close above this high will confirm a continuation to the upside. The first trend shown, highlighted by the green box, rose by 22% and the current trend also highlighted by the green box has risen by 16%. It still has some way to go if it is going to exceed the length of the previous trend. If the current pullback drops any further then the next obvious level that price my move towards is $1,611 which is the resistance turned support from the 8th January 2020 high. Gold does tend to trend for really long periods of time, however at a steady pace so we may see a trend lasting several years. We are currently holding onto our positions and will continue to compound once we experience a breakout. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
Palladium : Remember, You only have One Bullet...Hello ! First of all , if you think this analysis is useful to you, press the LIKE button after read ) More importantly, let's get into comment sharing! Let's start. This is a one-try trade only. XPDUSD 1W Chart : Momentum seems to be slightly weakened, but the trend can be incredibly strong, misleading. Our Risk / Reward ratio is 1/3 COT Position Status : There are big reductions in positions here, but my opinion : Short should only be considered for a permanence below Fibonacci 0.618. And there is an incredibly forceful trend based on supply - demand. This will continue violently in all directions for a while. Parameters on Chart Presentation. NOTE : We definitely stop trading at these levels, including 2294 stop-loss. For those who are at the computer: There may be under 2294 closings. We definitely don't get stubborn under these places. Best regards.
OANDA:XPDUSDLong
by Noldo
2
Palladium Struggling To Pass $2.500$2,500 proved to be a big hurdle for price towards the end of January 2020. Price soon started to see weakness and the selling began but was caught by the 20sma support level. From the start of February 2020, there has been increased momentum in price. The force of the recent move appeared as though it was going to be enough to break through the resistance at the round number but it appears to be holding price back yet again. Right now the 20sma and the $2,500 round number are forcing price into a squeeze and we should eventually see a breakout to the upside or the downside in the near future. As the trend is bullish, the bias is for a breakout to the upside. Should price eventually break out through resistance, then we should be seeing new historical highs created, which a year ago would have been viewed as very unlikely to happen. This is the reason why thinking has no place in trading. We can not think what will happen next, but we must act upon price movement as it happens using a solid trading strategy. The trends in the past have ranged from moves between 18% and 38%. The move so far has only risen 11% and if the trend continues then we are not even in the 18% range yet so there may be more profits to come. We will be looking to add further compounds once a breakout occurs. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
2
XPDUSD - Continuing up or falling back further down?Since the rally to 2525 price started to cooldown a bit. Price formed a range now around (2333-2256 region) the 38.2% fib level. If prices whishes to continue upwards then it must hold the bottom of the range. safest execution would be to enter on a break&retest of the range. This ofcourse applies for both ways. Palladium refused to fall down even with the pressure from the 'coronavirus' while equivalent commodities took hard hits, this is why i think there is possible more room for palladium to go up. -We must monitor price carefully and execute on what we see, not what we think. ~Gratz TopTok.
OANDA:XPDUSD
by Toptok