Here is a textbook elliotwave chart, any pullbacks here should catch a strong bid with invalidation on the pattern coming in below 1,125, no surprises it is the top in wave 1.
The underlying trend is clearly bullish and I see no reason for this trend to not continue on towards 1,850. Those who are looking for positions here, it is inside range trading time whilst we chop between the wide 1,200/1,600 levels. Both sides can be played but the real move will come with a break to the topside on momentum. Highly recommend all to watch this move and consider adding longs circa 1,200 .. stops can be placed below 1,125 and targets above $1850.
Best of luck all those trading Palladium for the late cycle flows.
The underlying trend is clearly bullish and I see no reason for this trend to not continue on towards 1,850. Those who are looking for positions here, it is inside range trading time whilst we chop between the wide 1,200/1,600 levels. Both sides can be played but the real move will come with a break to the topside on momentum. Highly recommend all to watch this move and consider adding longs circa 1,200 .. stops can be placed below 1,125 and targets above $1850.
Best of luck all those trading Palladium for the late cycle flows.
