Palladium price action about explode outwards and upwards from the multi-month pendant that's been formed. Fundamental short supply/healthy demand coupled with technical positive RSI divergence and strong pendant pattern indicates a strong move to somewhere between the 1.618 and 1.786 Fib levels.
Trade active
It's escaped! Off to the 1.618 Fib I expect:Trade active
Bouncing off support.Trade active
Parabolic move to 1.618? Momentum is very strong on RSI and has exited channel. Expecting a retest of channel before final explosive move to 1.618 and maybe beyond?Trade closed: target reached
I sold at 1710 after RSI had peaked above 70 and came back down. Technically, it was a good time to sell. Boy oh boy I wish I had held onto this one. It actually started its parabolic move at the 1.618 level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.