Palladium: Evaluating Early Long Amid Rising Volumes
Ideally, it would have been better to wait for the trading day to close before entering a long position.
However, my possible impatience is pushing me to go long now.
Among all metals, I find palladium the most undervalued. Silver and platinum are also holding at their 18-day moving averages, while gold has already bounced up about 4%.
Notably, palladiums volume todayan incomplete trading dayalready rivals or exceeds Fridays, which saw the sharpest fall due to margin calls. I think it might be early, but going long from here seems reasonable.
I doubt well drop to the 50-day moving average that would be too cheapbut even if we did, it would be a great buy.
I dont expect such a drop, so Im entering now , despite knowing waiting for volatility to drop would be ideal.
My stop is set at 1625, tighter than usual, but Ill adjust based on hourly volatility.