Palladium Gets Interesting as it Approaches New High

Two months ago, the price of palladium was hovering around $1425 following a recovery from as low as $1325. Unfortunately for the bulls, the structure of the decline from $1615 to $1325 suggested still lower targets were plausible. The chart below, published on April 21st, visualizes the reason for our pessimism. The hourly chart of…

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Price of Palladium at a Critical Juncture

It has been a slow and choppy advance, but the price of palladium somehow managed to climb from as low as $450 in January, 2016, to $818 as of this writing. This means that an investment in palladium would have returned nearly 82% since the start of last year. However, the past is not always a…

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Palladium To Regain Negative Bias?

On the 15-minute chart of palladium there seems to be an almost finished Elliott Wave cycle. A five-wave impulse to the south from 604 to 567, followed by an almost finished w-x-y double zig-zag correction. In addition, it looks like wave B is going to end somewhere near the 61.8% Fibonacci level. According to the…

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Why Waiting For Confirmation? A Tale Of Greed

Every trader with enough experience in the market usually comes to the conclusion, that he needs a system of rules to go by. Rules, which should not let him abandon his discipline and get emotional while trading. Every trading methodology has one such system, which tells you when to go in and out of the market.…

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Palladium Fulfilling The Bears’ Desires

“The bulls must be careful, because a reversal to the downside is likely to occur. A reversal, which could be the beginning of a larger move to the south with the potential to lead prices below $730.” That is what we wrote about palladium on March 9th in “Fibonacci To Force Palladium Down”. Our bearishness was based…

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Fibonacci To Force Palladium Down?

Palladium had some very successful weeks recently, climbing up to above $830. Last week the precious metal fell by 20$, but it seems this was just another buying opportunity for the bulls. How high should palladium be expected to go? Are the bears going to return soon? Let’s take a look at the chart below,…

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When Does an Elliott Wave Setup Fail?

As a rule, you should never give up on a trade, if it still has the potential to develop in your favor. But how to determine, if a trade is no longer valid? Fundamental market analysis does not provide such information at all. Conventional technical analysis rarely gives you a concrete level for the protective stop. Only…

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Palladium Confirming The Reversal

In our previous analysis of palladium we gave you two bearish scenarios, both of which suggesting for a reversal in the zone of 820. Today, one week later, the precious metal seems to be confirming the expected change of direction. As the chart shows, the price of palladium formed a top at 822 and then…

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Palladium With Two Bearish Counts

In our previous forecast of palladium we suggested, that the precious metal is probably in the middle of an A-B-C zig-zag correction to the upside. We thought so, because there was a complete five-wave decline before that. The Elliott Wave Principle states, that every five-wave sequence is followed by a three-wave correction in the opposite direction. On…

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Palladium with an Extended Fifth Wave?

Palladium bounced up sharply from the bottom at 735 and is currently trading above 800. This renewed bull’s strength comes after a decline of nearly 200 figures, that started from the highs of 912. What should traders expect from now on? Palladium, as any other widely traded instrument, obeys the laws of collective market psychology,…

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Palladium, bears need to rest

Palladium rose to 912 on 1st September, but was unable to keep the bullish momentum and is currently trading close to 830. We are interested not only in the decline itself, but in its wave structure as well, because it can give us a hint of what to expect from now on. The Elliott Wave…

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