Palladium Setting Up To Go Long
Palladium had a nice run between 2018 and 2020 with a rise of 245% during this period
before the Covid-19 pandemic hit price.
From that point, price created an all-time high at the time of £2875, then there was
a sharp decline to near the $1500 round number.
The round number and the 50 simple moving average cushioned the fall and gave price
enough support to find its footing.
Price has slowly been climbing back up, using the 50 simple moving average as support
along the way, and went on to create new all-time highs last month at $3017.
The previous all-time high is below price and has acted as support already and may be
the base price needs to help it to continue creating record highs.
If price can break and close above the recent high, this would also take price above
the $3000 round number and allow us to look for a position in this commodity.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
before the Covid-19 pandemic hit price.
From that point, price created an all-time high at the time of £2875, then there was
a sharp decline to near the $1500 round number.
The round number and the 50 simple moving average cushioned the fall and gave price
enough support to find its footing.
Price has slowly been climbing back up, using the 50 simple moving average as support
along the way, and went on to create new all-time highs last month at $3017.
The previous all-time high is below price and has acted as support already and may be
the base price needs to help it to continue creating record highs.
If price can break and close above the recent high, this would also take price above
the $3000 round number and allow us to look for a position in this commodity.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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