Palladium Resting At The 50 Simple Moving Average
Palladium has seen a strong rise since August 2019 with nice trends ranging from 18% to 38%
following periods of pullbacks. This has been an overall growth of 106% over a period of 7 months.
As with every trend, there will be pullbacks along the way and we are experiencing another
one at the moment. When price pulls back, we always want to look for areas of support that price
may come towards.
Price usually bounces off areas of support but if support levels are broken it may indicate further
weakness to come.
Price has pulled back to the 50sma which is currently holding and helping to keep price up.
The last time price hit the 50sma was in November 2019 and we saw a strong trend that followed.
If price can do the same going forward then we need to see momentum to the upside which can
push price above the $2,500 round number.
Followed by that we need price to break and close above the current high at $2,875 and the
$3,000 round number. If these levels are broken then we should continue to see Palladium
soar to even greater heights.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
following periods of pullbacks. This has been an overall growth of 106% over a period of 7 months.
As with every trend, there will be pullbacks along the way and we are experiencing another
one at the moment. When price pulls back, we always want to look for areas of support that price
may come towards.
Price usually bounces off areas of support but if support levels are broken it may indicate further
weakness to come.
Price has pulled back to the 50sma which is currently holding and helping to keep price up.
The last time price hit the 50sma was in November 2019 and we saw a strong trend that followed.
If price can do the same going forward then we need to see momentum to the upside which can
push price above the $2,500 round number.
Followed by that we need price to break and close above the current high at $2,875 and the
$3,000 round number. If these levels are broken then we should continue to see Palladium
soar to even greater heights.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Join Our Private Community
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
Похожие публикации
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.