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PALLADIUM (US$/OZ)PALLADIUM (US$/OZ)PALLADIUM (US$/OZ)

PALLADIUM (US$/OZ)

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PALLADIUM trade ideas

Palladium is a friend to the environment... and it could be yours too! Palladium is at an interesting juncture here. It is worth following. Technically, the outlook is extremely bullish. Double bottom within a double bottom, an enormous consolidation right at the top. This is a platform to launch way higher. I've found big similarities with Bitcoin's price action and patterns of the last 5 years. Some coincidences are unbelievable. The profound scarcity on both could be the driver. Although Palladium's trend is slower (there's nothing faster than bitcoin), this structure is way more solid. It has broken to all time highs this year, and after a successful retest it is now marching up trying to discover its fair price. It could have a tremendous jump in the following years. Fundamentally, it is also attractive. Palladium is very scarce and the main application is industrial, employed in an after treatment coating in vehicles exhaust (catalytic converter for combustion engines), helping reduce harmful emissions. This subject gained a lot of traction given strict European legislation towards global warming/climate change, and the failure to comply by auto maker companies such as Volkswagen (2015 scandal). This metal has only recently started to shine as a precious metal investment. While RCM has been producing 99.95% pure palladium bullion coins since 2005, US Mint started last year 2017 with a ridiculously low mintage. The risky element is that palladium demand depends on cars production, and as such the price could be subject to Global Macro conditions which are very sensitive right now and the years to come. In 1999-2000 it had its previous explosion in price with the commodities boom nurtured by geopolitical issues and shortage of supply. The number 1 producer in the world is Russia followed by South Africa. Public attention is still quite low, but palladium recently captured a few investors and journalists attention naturally, after breaking to all time highs and surpassing gold's price per ounce... some media have been reporting palladium as "the most expensive metal in the world" (inaccurate).
TVC:PALLADIUMLong
by RooKiED
2
Palladium Forecast: Price hits the new records as supply deficitPalladium prices ended the week at 1176 $ / Ons – Spot Rate – hitting the records high. Along with Rhodium, Palladium is the shining star of the precious metal sector. Both precious metals flew high due to a growing imbalance in their supply and demand fundamentals. Demand for physical palladium is one of the important factors to consider especially because there is a global supply deficit since 2012. Palladium has significant industrial uses with most of the demand coming from the auto sector. It is the critical component in catalytic converters, which reduce harmful emissions in gasoline engines. Supply Side: The car demand is solid across the world, and trends are toward big SUVs in the U.S. and small gasoline engines in Asia. All of these are growing palladium demand. The optimism that the U.S. and China could reach a trade deal in the near future is adding to the momentum in an already bullish environment. Demand Side:The mining supply for 2018 is expected to be flat as a decrease in South Africa and Russia may be offset by a gain in output from Canada according to Metals Focus data. The supply fundamentals continue to favor Palladium prices, especially if Chinese growth begins to pick-up. Although, there is a risk that palladium prices fall in the near-term as sentiment on the global economy sours the market players see any selloff as a short-term move. Even if the global economy weakens, we need to see a major slowdown in global growth to impact prices. Speciality chemicals company Johnson Matthey calculated that physical demand for palladium exceeded supply in recent years: Demand exceeded supply in 2016 by 89,000. Demand exceeded supply in 2017 by 801,000 ounces. For 2018 the forecast to have another shortfall of 239,000 ounces. Summary: Supply deficit will continue. Physical industrial demand for palladium may have shown structural deficits but the price did not react accordingly. Why? The answer is in massive ETF outflows of physical palladium. ( See Bloomberg’s Article Sep 28th : ) ” Prices are rallying sharply, likely because of a squeeze in the market and tight supply and demand for the metal but HEDGE FOUNDS ARE LARGELY UNINTERESTED ” Does it mean that the palladium ETF outflow was meant to close the gap of the supply deficit in the car industry? Focusing on the physical demand / supply imbalance, it seems that in 2019 the ETF outflow will have reached its limit, and the physical shortage will have no easy to fill the gap. The New GOLD ? Meanwhile, Palladium prices are gaining on Gold. It is possible for palladium to trade higher than gold if palladium supply continues to be muted, demand for autos and electronics increases, and tighter emission legislation further takes hold in China and the U.S If we look at the matter technically: All times high 1125 has been broken. This can be the beginning of a new big bullish move. This week we will focus on 1125 support. If the prices hold above 1125, the first level to break would be 1187 $. And breakout of 1187 $ would lead the prices 1202 $ and 1218 $. Our midterm price prediction is 1250 $ and 1350 $ ( By the second half of 2019 ). Note: On the smaller chart timeframes – H4 Chart – we see a bearish butterfly pattern indicating a minor correction. Potential pullbacks towards 1125 and 1061 should be used as buying opportunities.
OANDA:XPDUSDLong
by chartreader_pro
PALLADIUM (XPD/USD)We can expect to scearios to occur. Scenario 1: The price can either go to the top of the uptrending big channel; and reject the resistance, bouncing back to the downside, or to breakthrough and continue with the bullish momentum. Scenario 2: Price could either move downwards and break the resistance on the small channel, and continue going down, or reject the bottom resistance of that trendline and go up. My bias is short as i expect the price to go up an fail to penetrate the resistance of the ascending big channel
TVC:PALLADIUM
by munyaelliott
Is Palladium the new Gold?On this quick comparison we can see how Palladium has outperformed Gold since their recent lows. Although Gold has only managed to grow +7.16% from its recent August lows (1,160) and is way off its annual High (1,366), Palladium has gained +37.96% breaking at the same time its January annual high (1,139.60). Taking into account the very long term bullish trend on the monthly chart (RSI = 67.636, MACD = 74.470, Highs/Lows = 62.5922 ) since the 252 low, where Palladium has increased its value by +155.43%, if the 50% Fibonacci retracement level on 1D (991.600) holds, then we can expect another +20% gains in the following months (target 1367). This is a good buy opportunity for long term investors. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPDUSDLong
by InvestingScope
8