~ Week Of March 20th 2017 ~
Palladium Making Higher Lows
Published by Jay Davies - March 21st 2017
The rare and precious metal Palladium has been making steady gains over the last 14 months, producing numerous higher lows on the daily chart as it moved upward. This shows us clearly that the buyers are in control of the market at this present point. At the time of writing, Palladium was hovering around the $780 USD per ounce mark.
The $794 USD per ounce level has proved to be a stalling point of late, where price had been unable to push through in both January and February of this year. However, looking at the below chart we can see that another higher low was produced just days ago, alluding to the fact that the market may still have the strength of the bulls to punch up through the key price zone.
We'll be looking to see if the key price zone can now be broken in the days to come, and if so wait for an indication to run with the bulls and go long on this pair to bank some profit.