The current price for Palladium is 1202 and below the falling 200 day moving average of 1276. There are signs that the bearish trend is faltering, in particular the formation of a double bottom reversal pattern.
This comes at a time when the US dollar is showing clear signs of weakness especially against the Swiss Franc, where a weekly close below 0.8627 will trigger a powerful thrust to the downside, possibly towards the 0.78 area.
We remain positive for precious metals and in particular for the Platinum Group Metals which are massively undervalued against gold and where demand is expected to exceed supply in the years ahead.
Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a transaction should be based on your own due diligence and not on any representation we make to you.
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