Palladium Rescued At $2,500!

4 мар. 2020 г.

Palladium is proving to be resilient as it is finding strength after a sharp decline last week.
The $2,500 round number has come to the rescue for the buyers and it is acting as a strong
level of support for price.

In January 2020, this round number was acting as resistance and forced price to pull back
and now that resistance level has turned to support.

The fear of the coronavirus spreading caused wide speculation in the markets last week
and Palladium fell by over 350 points.

Now that price has found support at $2,500 we are starting to see strength back in this commodity
and we just need more momentum to see price push its way above the current all-time high.

A break and close above the current all-time high at $2,875, formed on the 27th February 2020,
will confirm a continuation of the uptrend.

Bear in mind that we have the $3,000 psychological round number not too far above that high.
This may cause further resistance for price if it can reach these heights.

Our multiple positions are currently still in profit and we are looking to compound once
we see another breakout.

See below for more information on our trading techniques.

As always, keep it simple, keep it Sublime.