Is $2,500 The Limit For Palladium?Palladium has gone on to shatter records performing a steep climb over the past couple of weeks
but will the rise be over as fast as it started?
The chart clearly shows the clean breakouts following clean pullbacks in Palladium over the last year
and each breakout has resulted in a nice trend. The most recent breakout has been the strongest
yet in its recent history.
When price was approaching $2,000 again in January 2020, many said that price would fail at that level
as it had failed there previously in December 2019. Price will always do what it is going to do,
which is why speculation should be ignored at all costs.
Palladium went on to soar above $2,000 and then we saw increased momentum which pushed price up
another 25% to where it now stands around the $2,500 level.
Is this the limit for Palladium?
That is anyone’s guess. But what may be more likely to happen next is for price to pull back as price appears
to have momentarily run out of steam. If this is the peak then we may see a sharp decline,
but if this is just a pullback then we want to see a break and close of the current high at $2,543 which will
confirm a continuation of the bull trend.
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