Palladium Price Review

London (Dec 23)  Those that view the message of the market on daily basis are likely confused by trading noise. While trading noise contributes to the long-term trends, it does not define them. Human behavior tries to explain trading noise as a meaningful trend. This confuses the majority which, in turn, contributes to their role as bagholders of trend transitions.

Palladium remained in double/triple alignment for over a month. No trade lasts forever. PALL lost triple alignment on 12/7. Smart traders have been edgy about the bullish trend because a persistent bearish divergence in the pro index since the 2017 high chart.

Traders should have rang the cash register to take profits on the long trade. We stand on the sidelines, bullish in bias, waiting for the DI index to climb above -60%. The mini spike in DI would be the first indication to buy the dip, hopefully near a weekly or monthly support reversal.

Investing.com