STRONG BUY | PALLADIUM
Strategy: Impulse Correction
Direction: Bullish
Moving Average: Blue above Red
Fib Retracement: 38.2 reached
MACD > 0
Support : Finding additional confluence, as the weekly bounces off a massive support structure
1st Target = 1336
2nd Target = 1449
3rd Target = 1595
Lots: 0.1 (Plan to pyramid into this one)
INSIGHTS: Mining companies are pressing Trump to add tariffs to palladium imports from Russian. Should this happen, we should see an increase in price as SA and Russia export the most Palladium.
Re-entering this trade as I have a string conviction on it.
Trade 5/20

Palladium Is Back in Shape: A Long-Term Upside Setup
Palladium is showing renewed strength, forming a compelling long-term long setup.
After a prolonged correction, the metal is gradually shifting back into a bullish scenario.
The technical picture looks constructive:
Stop: 1375 — a key level whose preservation maintains the developing bullish structure.
Target: 1670 — a retest of previous highs.
A breakout above 1670 could open the way for a more aggressive medium-term upside.

Cup & handle, bull flag - look for a breakout
Commodities are bullish right now if you didn't know.
Silver, Gold, Natural Gas, Palladium and more. They are all interesting right now. Commodities is the sector you should be looking at right now.
We had tech, weedstocks, cryptos, ai
now look for commodities for near term plays.
Speaking of Palladium, I love this chart. Beautiful.
We have a nice formation of a 2 year cup with a resistance at 1600$
Short term, we have near break out of bull flag at 1500$
The blue zone extending to may should be a zone where you have to keep close attention to this chart.
I'm expecting a breakout with target of 1870 ish on palladium. I'm early on this one, there is no breakout at the moment. I just follow the good sector and bet on the nice chart.

xpd usd Long Palladium
monthly chart on how Palladium may act once it keeps the 0.786 orange fibo as a support. Once it does that, like it did in Green Circle, it should rally up to fibo 1.00 (roughly 1550-1600 usd for 2024) and then the real move should come after that to fibo 1.272... Mind the divergence in monthly RSI as well, pointing to a upturn...

PALLADIUM Channel Up starting a new 2-month Bullish Leg.
Palladium (XPDUSD) has been trading within a Channel Up since almost the start of the year. Its latest October 16 Higher High started a pull-back (Bearish Leg) that found support recently on its 1D MA50 (blue trend-line).
As with the Bearish Leg before, it also almost reached the 0.5 Fibonacci retracement level, so there is valid ground for an upward reversal into the new Bullish Leg technically. With the two previous Bullish Legs rising by +50%, we expect a similar development, targeting $2000, which is also the 1.5 Fibonacci extension (as with the last Bullish Leg).
Notice also that the 1D MACD just formed a Bullish Cross, similar to September 02, which started the previous Bullish Leg.
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