Has Palladium Made A Bottom?This is unclear of yet but it's looking quite likely that a bottom may be in, Have spotted a few confluences to add more confirmation - time will tell.
PALLADIUM trade ideas
PALLADIUMPalladium chart is a train wreck
I would be very surprised if it doesn't visit the corona lows
And even with a significant bounce it's likely to be in a bear market for sometime
NOT INVESTMENT ADVICE
Note- action-reaction chart in log
Also- smacks of a slowdown/demand-side problems in 2022
Palladium buy rangeSell now, buy later. Long range is 1400-1600. Palladium is still in correction. 22-23 sell range is 2800+.
Palladium Is Longing for RecoveryPalladium futures are falling for the eighth consecutive month from their peaks at $3019 per ounce in April-May this year. And there are a number of reasons for such a decline as palladium is used as an industrial metal for the production of car components that are used in high-ecological standard engines. However, the car production industry is suffering due to lagging demand and supply chain disruptions.
The other reason is persisting expectations about the faster tapering of the bond purchasing programs and interest rates hike by the Federal Reserve (Fed). The Omicron variant could also be considered as a bit of a worry amid fears of possible lockdowns and further drops in demand. Due to all these reasons, palladium plunged 44% from its May peak and continued on its downward spiral until mid-December, where its futures are traded around $1670 per ounce.
But nothing is over for palladium at the moment. If you look at the weekly or monthly chart of its price, you may find a “rising wedge” pattern that continues implementing itself and point to the $1360-1380 per ounce zone. So, we may consider buying operations only once the price will be near that level. Moreover, the minimums of March 2020 also point to this zone. Prices have been declining for a long time up until now and the asset is longing for an upside correction. The prices of futures may return to $2200 per ounce alongside the correction. However, any long-term bets would be certainly premature as the future green development of the global economy and car industry, in particular, is clouded. For a more accurate analysis, the pace of hybrid and electric vehicle construction should be considered.
According to Citigroup palladium prices may rise significantly along with the recovery in demand. The shortage of palladium is inevitable as the car industry recovers. But this forecast is likely to be moved further in time closer to 2023.
Fibonacci and clouds - the dream duoOne of my jobs as a technical analyst was to provide trading ideas. Sometimes this was intraday and sometimes these were longer term strategic positions.
When it comes to intraday entry points I like to use a couple of indicators at least to give me a potential entry point and for me, my dream duo is the Fibonacci retracement and the ichimoku cloud combo. I particularly like to use this on the one hour and 4 hourly chart.
The above 4 hourly chart on palladium is showing that the corrective move higher is about to run into the top of the cloud and the 38.2% retracement of the recent sell off at 1892. The combination of the two should act as decent resistance and we will be looking for signs of failure here.
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Palladium , some move up soon I am seeing this to retest the wave 4, from there we will see if it gonna be corrective or impulsive down
PalladiumTerribly bearish
Two targets one is that demand zone around 1500
But really that 1.618 zone looks juicy
Platinum is so much cheaper and having the green hydrogen industry set up around it
DISCLAIMER: Nothing here constitutes advice
Long term palladium buy opportunity We can potentially see an additional 10% drop but we’ll be buying at every bit of the dip. I believe this is a 1 in 5 year buying opportunity for palladium. Currently the recent Covid variant news is putting downwards pressure on this precious metal as its main driver of demand is through vehicle manufacturing but the suppression of price won’t happen for too much longer. Long term strategy play, a potential to test prior all time high within the next year. Let’s wait and see…enjoy the ride. ✌️
Good Buying opportunity In PalladiumPalladium trading at the bottom where the previous bull run started and is above the fib level of 0.23 which also the good support zone on daily TF.
1810 1821 and 1832 are the levels to watch any dip at those levels could be a good buying levels
Thanksgiving Is a Time to Talk About PalladiumYesterday was Thanksgiving in the USA, so the American session was very passive, and there was no particular news. Is that a local panic in connection with a new strain of coronavirus from South Africa.
Let's take advantage of this pause in the information flow and talk about palladium. Why about him and why now?
Bloomberg Commodity Index continues to grow and update the highest levels in many years. But palladium has lost 40% of its value over the past few months. Which in itself is of interest. And now we are talking about palladium because its prices have approached the key support level, and the automotive giants have reported on the results of the third quarter and we can already draw some conclusions.
Let's start by answering the question why palladium fell? In short, a shortage of chips has caused problems for car manufacturers. Extremely typical in 2021 was news such as Ford suspended the work of such and such a factory, Toyota closed such and such a factory for so many weeks, etc.
Since 84% of the global demand for palladium is generated by automakers, the decline in palladium prices looks logical. But as usual, the medal has more than one side.
Palladium has been and remains one of the most scarce precious metals in the world. According to Metals Focus, the palladium deficit in 2021 with a market volume of 10 million ounces per year could reach 1 million ounces per year. Note that the palladium market has not come out of the deficit for 5 years in a row. And it's hard to imagine a better reason for a rise in prices on the physical asset market than a deficit (ask oil after OPEC + cut production by 10 million b / d).
Will 2021 be a watershed year due to chip shortages? Judging by the current statistics on car production in the world, definitely not. Yes, the production level of 2019 has not yet been reached, but the volumes of 2020 have already been exceeded by a third (and 2020, even with a sharp decline in car production, was a year in short supply for palladium). But in addition to the quantitative aspect, there is also a qualitative one - the tightening of emission standards leads to an increase in demand for raw materials for catalysts (palladium).
The palladium supply is also not going well. The two key palladium producers in the world - Russia and South Africa - are in trouble in 2021. Russia - due to the accident at the mines of Norilsk Nickel (the largest palladium producer in the world with a share of under 40% of world production), and South Africa in recent years has basically reduced production.
Total: there is a feeling that the markets have overdid it with minus 40%. It's not that bad, and on the contrary, current palladium prices look very promising. So we recommend that you pay attention to the purchase of this metal.
Palladium Update. it acted exactly according to the analysisAs I mentioned in our previous analysis, we considered the price correction to the specified levels to be possible, which happened now that we are trading at the end of the week. . And we predict growth up to specified prices. Also, the well-formed M model has been completed and we will be deciding to start a bullish price rally in the coming days .Otherwise the current level breaks and further correction to specified levels is less likely ....
Formation of twin roof pattern and price correctionForm a twin roof pattern and modify it to the points specified in the diagram
PalladiumGood morning starts with a good trade, wolves🔥
One more formation. So get ready
The price multiple times bounced from support and resistance level.
Possible retest of the level is expected.
Follow the chart and look for the best price to enter carefully.
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PALLADIUM AnalysisAn idea suggesting bull continuation for palladium
Price can be seen to be sitting right on 4.618 of a trend that was drawn within the bull structure
This is a possible recovery point
It also aligns nicely when a trendline is drawn across the top of the two circles, providing a possible target
The green lines are strong support areas if the bull idea does not come to fruition
I'm a bit new please be nice Hi can one take a look at the posted idea and let me know what your views/what you think.
Can anyone give any advice on how you can improve on this (I am pretty new to this please be nice).
Very simple stuff but Palladium appears to be in a side trend so thinking place a pending buy or sell order just past the channels/trend lines (taking of the order which doesn't get trigged) and using a 2 ATR stop loss.
Two possible ways to the palladium goThe chances of it going up is bigger than going down, not sure how much, but I would say 70% to go up
PALLADIUM - XPDUSD BULLISH CONTINUATION ON THE CARDSPalladium - Monthly chart is making a come back after falling off the cliff in the past few months. The drop can be viewed as a much needed correction in the overall bullish trend in the metals market. Price action is telling me that palladium prices have found the floor and now price looks set to bounce back up to possibly new highs in the next coming months to years.
PALLADIUMIt may seem that PALLADIUM wants to grow. As you can see from the chart mini-downtrend has been broken with a large "bullish" candlestick. Maybe right now it's the momentum to enter. Good luck in trades, buddy.
Disclaimer: It's not financial advise and the theory is only subjective meaning of a curios trader.
expecting continued dipPrices so far have followed relatively the same pattern as predicted before. It will mostly likely retrace a bit and continue downward before reversing log term again.
PalladiumMonday, 1 October 2021
3:00 AM (WIB)
I would like to open purchase order on Palladium when the price around and near $1.908 area. My target to 0.618 F zone depending on how market reaction on this structure. I see 8% profits on Palladium should be take precisely.
Best regards,
RyodaBrainless
"Live to Ride and Ride to Live"
Palladium || XPDUSD || Double Bottom || RR 10xThere are two TP levels; TP1 is safer - more of Throwback price to Throwback.
Chart pattern (?Reversal) herein, is somewhat similar to what is progressing on EURUSD, USDDKK, EURHKD.
It's tricky. Shine ya' eyes.
I used an fx calculator for this--
!! It's palladium not Euro/Usd. That Stop Loss might be more expensive than you thought.
