PALLADIUM trade ideas
XPDUSD big return...XPDUSD big return. The price of palladium had built a correction channel that slowed down to 840usd. This level is probable to the bottom of the decreasing correction ABC wave structure. If our theory is correct, it may be a slightly flat but very long-lasting rise. The third wave of wave structure rising from 462usd. The target price is 1405usd.
Palladium - $/oz 1.030 TargetPalladium is in my opinion in a broad correction wave, within which it should now come to a price increase to $ / oz 1.030. There, in the favored scenario, the wave B could end and within the framework of the wave C with new lows up to $ / oz. 870. Alternatively, a (a) (b) (c) (d) (e) formation forms before the wave C starts.
A bullish scenario will only start at $ / oz. 1,090.
Greetings from Hannover in Lower Saxony
Stefan Bode
Palladium short, H4Short term trade
Price is at daily support level
Monthly is trending bullish with strong momentum
Weekly & Daily are choppy/range with no clear trend
H4 is bearish and is over-extended from Moving Averages. Looking for a retracement (Fib 61.8%) till 1000 levels for a short entry.
Potential Trade setup: Target 1 will be 990 and Target 2 will be 980 and SL will be in 1020 levels.
Palladium taking the Copper’s leadPalladium breaking the symmetrical triangle and running into the neckline
Palladium has continued to rally with breaking the symmetrical triangle resistance trendline, and the forthcoming neckline widely spread between 1057$-1065$. Since the daily and weekly oscillator has picked up and bullish break through the neckline could open fire to1100$ it’s 100.0 fe, in the medium term. The supports are at 990$, 966$ and 940$.
Finally, the price has soared above 1000$ per ounce and closed above, for the first time after April 2018. Earlier in mid-May, we tweeted the bullish sign and still retain the same view.