PALLADIUM - Near Good Buy PointA strong trend line emerges when drawn like this.
At roughly ~1100 a reversal or bounce from this strong downward movement may be seen
Palladium
Palladium seems like a very good opportunity to me.Hello everyone,
How Rare is Palladium?
Palladium is considered a relatively rare precious metal. It is rarer than well-known precious metals like gold and silver and it seems like a very interesting opportunity at the moment to me.
There is lot of bullish signs I can see.
First of all It seems like it is in nice falling wedge pattern and finishing A-B-C-D-E correction. Very solid bullish divergence is forming on the Weekly time frame and it seems like it broke the red resistence line and its just testing it. Reversal should start soon for this precious metal
I see 50-400% Gains from here.
There is very solid setup for mid to long term trade as well as a long term investment.
If you Zoom out to the Monthly
Hope this helps you.
Cheers
A precious metal is a naturally occurring metallic element with high economic and cultural value due to its rarity, luster, and various industrial and ornamental applications. Palladium is a precious metal with unique properties and commercial importance akin to its renowned counterparts like gold, silver, and platinum.
What is Palladium?
Palladium is a silvery-white transition metal belonging to the periodic table’s platinum group of elements. William Hyde Wollaston discovered palladium in 1803 and named it after the asteroid Pallas, which was discovered around the same time. Palladium is known for its distinct luster, durability, and high resistance to corrosion, making it a valuable material in various industrial and technological applications. It has also become popular in recent years to invest in palladium.
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Lagger that refuses to fall and dreams about greatnessThe world's largest producer of nickel and palladium has had rather lackluster performance in 2023 advancing half as the general Russian Index. And still I cannot get over his accurate price structure that hints that better days are potentially ahead.
I want the price to start forming the right side and later the handle of a cup, and break out above important Sep'22 and Sep'23 high - 17240 area. If price will not be able to hold Sep'23 15730 low, I would want the area above 15250 and 200D line to act as support. Bellow this levels the analysis is to be considered wrong and invalid.
Trading thesis : cow-boy type longs (higher failure risk) may be considered above 16430 area with 3 and 5% stop levels.
XPDUSD: Engage above or below this Channel. Neutral within.Palladium has been trading relatively sideways as its inside a low slope Channel Down pattern since June 27th. There is no surprise that the 1D technical outlook is neutral (RSI = 54.874, MACD = -7.340, ADX = 26.821). Consequently you can scalp the Channel's range on the short-term on trade the direction of the breakout on the longer one.
If the price delivers a 1D candle closing over the top of the Channel Down (and most likely the 1D MA100), buy and target the 1D MA200 (TP = 1,400). If the price delivers a 1D candle closing under the bottom of the Channel Down, sell and target the end of a -26% decline (TP = 985.00).
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Silver - A 50% Long Setup. Trade Only. No HODL.In a post on Silver from June, I analyse that a run to $33 is on deck:
Silver - 33 Moons And An Options Opportunity
In the time that has passed, we've had two ~10% bounces that have been sold off.
To me, this is a peculiar pattern for a trendline play that leads to new lows in the immediate term future, and represents confirmation that $33 is on deck.
However, I'm also expecting a very bearish September across all markets, which I outline in a recent call on Nasdaq:
Nasdaq Futures - Are You Prepared For Red September?
Because I believe that we'll have a giant rally that takes out the tops of a lot of things heading into the end of 2023, and 2024 will mark the beginning of the real economic calamity.
When it comes to silver and gold being bullish in the long term, they should be, but the market manipulators will keep price supressed for a few reasons.
The first is that a renaissance in precious metals, or even a bubble in precious metals, will amount to promoting bullion, coins, bills, and even ore. These things are mankind's traditions, and are at odds with the current International Rules Based Order (IRBO) pseudo-Chinese Communist Party culture that more or less wants to install something like a cross between Shanghai's Zero-COVID social credit system and the Taliban.
The second is that China, which is still governed by the CCP and Xi Jinping, has bought an incredible amount of gold in recent times, if reports are true and not fabricated at least.
And so a short raid on precious metals would amount to a de facto economic sanction against China, which the IRBO claims to be de-risking against.
Moreover, if something should happen to the Party, whether that be natural disaster, a greater pandemic, Xi performing a Gorbachev-style coup against the Party overnight, or Heaven finally dealing with the CCP's 24-year persecution and organ harvesting genocide against Falun Dafa's 100 million spiritual practitioners, because China holds so much gold, there will be open selling into the market.
Prices will crash because the very wealthiest families on this planet are safeguards of tradition and will take advantage of the situation to purchase back that physical bullion and jewellery at record low prices amid the chaos.
"Buy when there's blood in the streets, even if it's your own," they say.
So here's the current call on silver.
The fake double top below the early May gap at $25.5~ is definitely manipulation.
It's traded back too far and hasn't shown any bullishness to give us confidence that we're going to go from $23 to $26 or $27 as a breaker pattern.
Because "resistance" has been printed, many very large players and retail traders who are short will position their stop losses over $26 and $27.
This becomes a target.
And in the meantime the goldbug moonboys have long stops under $22 and $21, which just so happens to be an untested gap.
So the trade here is to either look at a short on a retrace to $24 with a target of $21~, or just wait for $21 with a target of $33 by year end.
And then sell it all. Sell your spot. Sell your bullion, if you can't be hedged short.
Silver will eventually truly appreciate, and in a significant way, but it's not very likely to manifest before the new future unfolds.
And so in 2024, we may really see numbers sub $15 again. Ergo, because metals are, in reality, ranging and not trending, it's not a market for "buy and hold" to be an intelligent strategy.
Good luck.
PALLADIUM, Trading Near A-T-H, Targets Ahead When Confirmed! Hello Traders Investors And Community, welcome to this analysis where we are going to look at palladium, its price-action, and what we can expect from the future hours and days. It is one of the important metals and therefore a demanded exchange good in today's global economy. In my observations, I found some important and significant signs which will affect the price further and determine its outcome, therefore we are looking on the locally 4-hour timeframe.
As you can see in my chart palladium currently trades in a huge triangle which you can see marked in blue in my chart in which we have good bullish volatility and support at the moment which indicates a highly possible breakout to the upside as you can see the arrows marked in my chart. At the moment the bullish scenario is more likely because we have strong support in the range and has some good bullish volume but also we are still trading in a big correction that isn't completed yet.
After the triangle has confirmed properly we can expect palladium to test its higher levels, firstly it will be the middle line of the channel as you can see it in my chart when the price and trend stay stable in this region we can expect palladium to move higher at least testing the higher boundary of the uptrend channel and the all-time-high, as you can see the all-time-high is just slightly below the overall triangle target when this target is finally reached it can provide a new all-time-high which will be extremely bullish and can catapult palladium to next highs.
Remember that this scenario has to be confirmed properly, first we have to break the upper boundary with good volatility and close above the 600 and 800-EMA which you can see marked in my chart in light and dark blue. To wait on the right confirmation is the best option wise traders can do in today's market environment, otherwise, trading half-cooked and speculative setups can lead to unsatisfying results therefore it is important to always look and trade the best possible setups which today's market environment can provide to us.
Thanks to everybody for watching, support for more market insight, and all the best!
The ambition to transform opportunity into gold remains the most significant tool for a trader.
In this manner: FAREWELL
Information provided is only educational and should not be used to take action in the markets.
Palladium Outlook for the Next 3 MonthsSpot palladium is the physical form of palladium that is traded on the spot market. It is not a futures contract, and it is not subject to the same margin requirements as futures contracts. This makes spot palladium a more attractive option for investors who want to avoid the risks associated with futures contracts.
The outlook for spot palladium in the next 3 months is uncertain. On the one hand, the global economy is expected to slow down in the second half of 2023, which could put downward pressure on palladium prices. On the other hand, there are a number of factors that could support palladium prices in the coming months.
These include:
Rising demand from the automotive industry: Palladium is a key component in catalytic converters, which are used to reduce emissions from vehicles. As the global economy grows and more vehicles are produced, demand for palladium is expected to increase.
Supply constraints: The supply of palladium is relatively limited, and there are concerns that supply could be further constrained due to sanctions against Russia, a major producer of palladium.
Inflation: Inflation is expected to remain elevated in the coming months, which could make palladium an attractive investment for investors seeking a hedge against inflation.
Overall, the outlook for spot palladium in the next 3 months is uncertain. However, there are a number of factors that could support palladium prices in the coming months. Investors who are looking for a hedge against inflation or supply constraints may want to consider investing in spot palladium.
How to Trade Spot Palladium
There are a number of ways to trade spot palladium. One way is to buy and sell physical palladium bars or coins.
This is the most direct way to invest in palladium, but it can also be the most expensive. Another way to trade spot palladium is to buy and sell futures contracts on the London Platinum and Palladium Market (LPPM).
Futures contracts are a type of derivative that gives the buyer the right to purchase or sell a certain amount of palladium at a specified price on a specified date. Options contracts are another way to trade spot palladium. Options contracts give the buyer the right, but not the obligation, to purchase or sell a certain amount of palladium at a specified price on or before a specified date.
How to Trade Spot Palladium Options There are two main types of spot palladium options contracts: call options and put options. Call options give the buyer the right to purchase a certain amount of palladium at a specified price on or before a specified date. Put options give the buyer the right to sell a certain amount of palladium at a specified price on or before a specified date.
The price of a spot palladium option contract is determined by a number of factors, including the strike price, the expiration date, and the volatility of the underlying palladium price. The strike price is the price at which the buyer of the option can purchase or sell the palladium. The expiration date is the date on which the option contract expires.
The volatility of the underlying palladium price is a measure of how much the price of palladium is expected to fluctuate over time. To trade spot palladium options, you will need to open an account with a brokerage firm that offers options trading. You will also need to deposit funds into your account. Once your account is funded, you can place orders to buy or sell spot palladium options contracts.
Hedge Positions with Speculative Trading on the Stock Exchange
Companies that use palladium in their production process can hedge against the risk of changes in palladium prices by trading on the stock exchange. For example, a company that uses palladium in its production process might buy shares of a company that mines palladium.
This will help to protect the company from rising palladium prices, as the value of its shares will likely increase when palladium prices go up. Companies can also use options contracts to hedge against the risk of changes in palladium prices. For example, a company that uses palladium in its production process might buy put options on spot palladium.
This will give the company the right to sell palladium at a specified price, even if the market price of palladium falls. This will help to protect the company from losses if palladium prices fall.
Speculative trading on the stock exchange can be a risky proposition, but it can also be a way for companies to profit from changes in palladium prices. However, it is important to remember that speculative trading is not a guaranteed way to make money. Companies should carefully consider the risks and rewards before engaging in speculative trading.
Risk Warning
Trading stocks and options is a risky activity and can result in losses. You should only trade if you understand the risks involved and are comfortable with the potential for losses.
Rating: Mixed Outlook
Risk Disclaimer!
The article and the data is for general information use only, not advice!
The Trade Academy R&D Team
Risk Disclaimer!
General Risk Warning: Trading on the Financial Markets, Stock Exchange and all its asset derivatives is highly speculative and may not be suitable for all investors. Only invest with money you can afford to lose and ensure that you fully understand the risks involved. It is important that you understand how Trading and Investing on the stock exchange works and that you consider whether you can afford the high risk of loss.
Silver - 33 Moons [And An Options Opportunity](Using 3-Day candles for visibility only. Consult weekly/daily yourself)
I have an open call on Gold in that I believe a new high will be set, but it won't actually be bullish, because metals are going to dump pretty hard in the future and try to make retail sell their bullion.
Gold - When A New ATH Prints, Will You Get Trapped?
I hadn't paid a lot of attention to Silver and was on the sidelines until it dumped 10 percent this week, and now I believe there is a crazy good opportunity.
The problem with Gold is that the Chinese Communist Party bought a lot of it and they're going to get margin called or are the ones actually short selling.
The problem with silver is that there's not a lot of it left and it's really needed for technology.
When smart money wants to buy they accumulate at low prices and distribute at high prices. Often times what precedes the biggest moves are smaller moves that serve the purpose of wiping out and shaking out early short sellers and trapping retail traders who just love to buy high and sell low.
There's a lot of geopolitical risk in the world right now, as you can tell from the weekend "Prigozhin Coup," which I cover the implications of for the US Dollar here.
DXY - The US Petrdollar And The "Prigozhin Coup" In Russia
But the biggest geopolitical risk is what happens if Xi Jinping gets up one morning and dumps the CCP. Nobody believes this can happen and nobody is prepared for it.
But when it happens, it will implicate the whole world for both Xi and China to survive, they will have to weaponize the persecution of the 100 million practitioners of Falun Gong committed by the Jiang Zemin faction starting in 1999.
Since much of the world's financial sector and governments have dirtied themselves with Jiang in the persecution, when that day comes, it will mean that everything, everywhere is limit down. The liquidity will be gone, the algos will be off. Markets will no longer be made.
It is what it is.
In the meantime, nothing about what's going on with silver is bearish. Prices are low and it makes you want to sell, but it's actually a situation where you want to go long.
I believe that $21.20~ or $20.80 is what it's aiming for, and afterwards, the target will be at least $29.
So, what about options? One of the ways you can trade this move is calls on the SLV BlackRock ETF.
Getting in at $19~ and seeing a $10 move would push the ETF to at least $30.
There are two things that are significant about this:
1. Jan '24 at the money calls (based on the price right now) are $2.21
2. Average Implied volatility is only 24% and the 52W week low is 23.6% and the 52W high is 36%.
What this means is that calls are cheap and if iVol were to expand on a bull run from say 26% to 40% you'd pick up an extra ~$1 per contract on top of the strike gains.
The AGQ 2x Bull ETF has even more potential upside but it's a lot more risk and the swings are a lot more dramatic, for really obvious reasons.
All of this also means you can speculate in mining ETFs and individual miners. You need to use the underlying commodities as your metronome, though.
But this also means you'd have to be able to hold a winning position for 3 or 6 months.
You'd want to take profits at $27 and $29.
But if you get ahead of yourself and buy the $30+ high thinking that $50 and $100 and $500 are coming, you're likely to get seriously hurt.
Something is going to happen in this world between now and Q1 2024 and it's not going to be good news for the people lost in delusion wanting to have happy days and be a big baller.
Be careful, and happy trading.
Palladium - Bullish divergenceThe noble metal of Palladium has undergone a robust correction of fifty percent since the waning days of March in the year 2022. This fortuitous circumstance has begotten a plethora of reasons for one to adopt a bullish outlook. They include..
1) Price action and RSI resistance breakouts.
2) Bullish divergence. Six oscillators now print positive divergence with price action as measured over a 9 month period. Look left.
3) Not a big fan of targets. However the falling wedge pattern + breakout confirmation now forecast a 3000+ target.
Alas, is it not within the realm of possibility that the price action may suffer a further descent? Regrettably, this rhetorical inquiry must be met with an affirmative response. But, I beseech you, dear reader, to meditate on the concept of probability, for it is in this realm that the prospect of such an event becomes most implausible.
Gwd I need to stop reading the great works for Christopher Hitchens.
Ww
Type: Trade
Risk: <=6% of portfolio
Timeframe: Long from 1300 as the market allows.
Return: 100%
PALLADIUM - Return to Trend LinesThe green trend line would be the optimal recovery point but the dashed line below is also suitable.
Bars pattern showing my thinking of how price will act.
The green line is a strong trend line.
Precious Metals Schematics: A look into the Macro of FibonacciI have Listed Silver, Copper, Platinum, Palladium, Aluminum, and Gold into one chart. These are 6 of the top Metals all in Heikin Ashi Candle form.
They all have their own complex Fibonacci Clusters within each one. It may look confusing at first. But understand that one set of lines are horizontal extensions and another set are angled extensions within each one.
Palladium Analysis: Is price starting a swing higher? Today's focus: Palladium
Pattern – Descending triangle / Range
Support – 1223
Resistance – 1320
• Palladium added 4.37% on Thursday
• Palladium and Platinum ignored USD strength to finish firm on Thursday.
Hi, and thanks for checking out today’s analysis. We’re looking at Palladium primarily in today’s video, but we have also mentioned Platnuim, as it also posted a solid session on Thursday.
After yesterday’s rally, we have looked at a few things that have stood out in the buyer's favour, but we have also broken down the remaining hurdles and what we want to see from price to confirm the bullish signs.
Do you trade Palladium? If so, please let us know what you think of the descending triangle pattern and if you agree with current volume supporting yesterday’s move.
Have a great day and good trading.
Gold - $2,000 Is a Death TrapThis is a follow up to my June 2 call for a new ATH on Gold, that will be bearish, instead of bullish:
Gold - When A New ATH Prints, Will You Get Trapped?
In the process of tracking this, price action did not meet expectations (in the sense that it has not traded low enough), and so I began to reconsider the overall topography of the market.
Also, right now, I have an open call on silver for $33:
Silver - 33 Moons
However, as price has not traded down the levels I regard as requisite to trigger a bull impulse, while I still believe that these high prices will manifest in the future, the market makers desire lower prices first.
One thing to note about gold is both the monthly and weekly bars are actually bearish despite price having formed a long-term triple top:
But in the shorter term (1H-4H-1D) candles, gold is clearly heading towards higher prices after bouncing exactly over $1,900.
As I've said before, one of the problems with a metals bull market right now is that Xi Jinping and the Chinese government (the Chinese Communist Party) have amassed a large amount of gold in recent months.
China's economy is doing extremely poorly following the decimation of the Party by Wuhan Pneumonia and the CCP faces threats on all sides, especially from the International Rules Based Order who now chatters about "de-risking" from China.
Since the United States tends to be the market maker of everything, this is trouble for China's central bank. Large stocks of gold and a heavily declining price will put the regime in a great deal of trouble, depleting the money it has available for buying people off.
And this is a huge geopolitical threat, for Xi Jinping has one Trump card to play: throw away the CCP in the middle of Beijing time, which is the U.S. night, and weaponize the 24-year-long persecution and genocide against Falun Dafa (Falun Gong) meditation, which was launched by Jiang Zemin and its band of toad cronies in Shanghai.
Another thing to note is since the pandemic crash, BUT BEFORE 2022, gold has had something of an inverse covariance with the SPX and the SPX has an inverse covariance with the USD.
But after 2022, gold has traded mostly in lockstep with the SPX, although in recent days and weeks that has begun to decouple.
Looking at the daily covariance, gold and the USD have an inverse covariance with the overextended equities market:
And I anticipate a USD rally, as I state here:
DXY - The US Petrdollar And The "Prigozhin Coup" In Russia
Since I believe what the market makers have in store for us is a significant downtrend in the equities market until September:
SPX/ES - An Analysis Of The 'JPM Collar'
Gold setting a new high right now doesn't make sense.
And so what I believe will happen is the target for the algorithm right now is $2,030, and it amounts to a short squeeze/bull trap.
This will both take out the June high and draw in buyside demand over the $2,000 level, since retail goldbugs are always pining for a new all time high.
But the rally will fail, again, and the markets at large will fail again (except for Natural Gas).
Natural Gas - The Girl Who Hopes You Remember Her
And as the rally fails we'll see lower prices. Probably ending in the $1,800 range.
This amounts to a 10%~ drop and is pretty painful if you're sitting leveraged long and even worse if you're leveraged on call options.
If $1,800 is violated, then the top is probably already in, in my opinion.
So, be careful and make sure you practice social distancing from atheism, Marxist-Leninism, the Theory of Evolution, QAnon, and the CCP itself.
Long gold is about returning to tradition, and mankind's Heaven sent traditions are even more luminous than an entire vault of 100.00% pure AU.
XPDUSD Sell signal below the 1D MA50.Palladium (XPDUSD) has been trading inside a Channel Down for almost a year. The price ic currently near the top (Lower Highs trend-line) of the Channel Down, just below the 1D MA50 (blue trend-line), which is intact since May 23.
The 1D RSI action shows that we are potentially in a similar spot as December 27 2022, when a deep Lower Low sequence started. As long as the price stays below the 1D MA50, we will stay bearish and target the middle of the Channel Down at 1050.
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UPDATE: Palladium on track to $880.00Since our last update, Palladium broke below a Descending Triangle at $1,614 and is currently at $1,227.
The downtrend is strong and now there is a Rounding Top formation.
Break below and it could very well go to our first target of $880.
I'll let you know.
Palladium's mild rally to find a ceiling soon?Palladium - 24h expiry
Broken out of the channel formation to the upside.
We look for a temporary move higher.
The primary trend remains bearish.
50 1day EMA is at 1340.
Preferred trade is to sell into rallies.
We look to Sell at 1339.8 (stop at 1363.8)
Our profit targets will be 1279.8 and 1269.8
Resistance: 1322 / 1340 / 1360
Support: 1302 / 1290 / 1275
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Palladium: Early Bird? 🐦Primarily, we expect Palladium to move downwards once more to dive into the yellow zone between $1176 and $1088. There, it should finish wave v in green as well as wave (b) in blue before taking off in the direction of $1577. However, there is a high 48% chance of the metal being an early bird. In that case, Palladium would have already concluded wave Alt.v in green and would thus directly start the ascent, skipping the yellow zone.
Palladium at oversold extremes in a bearish channel.Palladium - 24h expiry
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
The current move lower is expected to continue.
Trading within a Bearish Channel formation.
Trend line resistance is located at 1248.
The sequence for trading is lower lows and highs.
We look to Sell at 1249.4 (stop at 1273.4)
Our profit targets will be 1189.4 and 1179.4
Resistance: 1250 / 1257 / 1270
Support: 1227 / 1215 / 1202
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
UPDATE Sibanye Stillwater is about to waterfall down to R16.89Since the last update, Sibanye is heading to the first target.
We have a long way to go, so you can see the update here.
There has been an Inverse Cup and Handle form on Daily.
This is definitely deemed a medium term trade. But luckily with shorts, we earn interest income.
200>21>7 - Bearish
RSI<50
Target R16.89
ABOUT THE COMPANY
Sibanye Stillwater is a South African mining company that specializes in precious metals mining, particularly gold and platinum group metals (PGMs).
The company was formed in 2013 as a result of a merger between Sibanye Gold and Stillwater Mining Company, an American PGM mining company.
Sibanye Stillwater is headquartered in Johannesburg, South Africa, and has operations both in South Africa and the United States.
The company operates several mines in South Africa, including the Driefontein, Kloof, and Beatrix mines, which are all located in the Witwatersrand Basin.
Sibanye Stillwater's PGM operations in the United States are centered around the Stillwater and East Boulder mines in Montana. These mines are known for their production of palladium and platinum.
Sibanye Stillwater is listed on the Johannesburg Stock Exchange (JSE) in South Africa and also has a secondary listing on the New York Stock Exchange (NYSE).
Palladium in inverted head and shoulders?Palladium - 24h expiry
A bullish reverse Head and Shoulders has formed.
Bespoke support is located at 1355.
We look to buy dips.
With signals for sentiment at oversold extremes, the dip could not be extended.
Offers ample risk/reward to buy at the market.
We look to Buy at 1350.1 (stop at 1326.1)
Our profit targets will be 1410.1 and 1420.1
Resistance: 1370 / 1380 / 1400
Support: 1348 / 1335 / 1315
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Will Palladium Slide Down To $1000?Palladium, which hit an all-time high of $3433 in March 2022, has since experienced a major downturn, plunging below the $3000 support level and losing 34% of its peak value by the end of that month.
The downward trend persisted throughout 2022, breaching the critical $2000 level in October.
A significant bearish move in February 2023 further pushed the price below the $1543 support level from December 2021, turning it into a formidable resistance level.
This has led to a further drop to a four-year low of $1305.
Now, with a total decline of over 58% from its all-time high, palladium may continue to fall towards the $1000 mark unless buying sentiment changes.
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Palladium primary trend remains bearish.Palladium - Intraday
The primary trend remains bearish.
Preferred trade is to sell into rallies.
20 1day EMA is at 1397.
Trading has been mixed and volatile.
Daily signals for sentiment are at oversold extremes.
We look to Sell at 1397.8 (stop at 1421.8)
Our profit targets will be 1337.8 and 1327.8
Resistance: 1400 / 1415 / 1430
Support: 1380 / 1360 / 1340
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Palladium - long set up Palladium at potential support with COT data at extreme levels. Looking for long opportunities.
