LONG - XPDUSD - Trade OpportunityPalladium OANDA:XPDUSD has been the talk of town the last few months, as it has surged in price almost 50%, and has only continued to become more valuable, bolstered by the Volkswagen emission scandal, and China’s new emissions regulations, which have affected how the country’s cars are made. All of this is really important as almost 80% of all palladium winds up in the exhaust systems of cars which helps turn nasty pollutants into more benign water vapor and carbon dioxide.
Now where we are gonna try to buy more Palladium is on the retest of this breakout on Jan 07, this seems like quite a strong support because it has confluence with the MA50 on the 12h chart, and MA7 on the weekly, which is a key indicator for start uptrends.
Keep in mind that these are short term targets, but we believe this is a really good long term hold.
Entry: 1309
TP 1: 1366.8
TP 2: 1422.37
SL: 1268
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