While the experts and everyone else obsess about what might or might not happen in the precious metal’s sector, palladium is being ignored, in favour of Gold and Silver, which have done nothing but disappoint those waiting for them to open their wings and soar into the sky. Unnoticed, though, Palladium appears to have put in a bottom and is now attempting to establish a new trend. Our trend indicator is very close to triggering a bullish buy signal.
As long as Palladium does not close below 575 on a weekly basis, the outlook will remain bullish. Currently, it is facing overhead resistance in the 720-740 ranges. Failure to close above 740 on a weekly basis will result in a test of the 620-625 ranges, with a possible overshoot to 580.00. Either level would make for a good place to open new positions.
Game plan, short and simple
Use strong pullbacks to open positions in Palladium bullion. . Palladium could be paving the way for Gold and Silver.
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