Very interesting market Palladium. Can make a lot of money fast, or loose it all. Been watching this for a couple of weeks now. If you don't know, Palladium is used in catalytic converters. Since the drop in oil prices for 2016, the car industry have seen an uptrend. 2017 may shape out that same way as there is too much anxiety that the OPEC agreement won't amount to much. Since Palladium is scarce, this market may continue to rise. March and June Palladium have been building out a head and shoulders pattern. Right now there is a bullish flag forming.
Unlike other markets, this market produces textbook signals. At least so far. The grid is based on a $2000 dollar move. If you had the courage and money to play this market since September 30, you would have reaped $54,000 per contract.
Unlike other markets, this market produces textbook signals. At least so far. The grid is based on a $2000 dollar move. If you had the courage and money to play this market since September 30, you would have reaped $54,000 per contract.
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Palladium hammered today on the top side of the bullish flag. Should see an upside to this market tonight and into tomorrow.
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And out of the hammer it rose as expected.
