Generational Wealth | Precious Metals Super Cycle | 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.
Alongside this, we can see that a reverse pattern is becoming clear with additional support illustrated by the support level in the form of the rectangular red box.
1st Target = 1678
2nd Target = 1836
3rd Target = 2039
Lots: 0.1 (Plan to pyramid into this one)
INSIGHTS: Precious metals continue to show strength with a weakening dollar. Pay attention to the DBC commodity Index which is indicating strength across the commodity complex. Alongside this, the DXY is sitting at an interesting level. Lets see whether will bounce at this level off a multiyear trend or whether the dollar will give way to lower lows in the coming months.