Palladium — a new bull market

 

The thinly traded Palladium market may be poised to assume the leadership position among metals.

The quarterly chart shows that Palladium has not experienced the bear moves of Silver and Gold. Palladium prices could challenge their all-time high points more quickly than the other precious metals.

 3.11_PA_quarterly

The weekly chart has been coiling since March 2011 and especially since March 2014. It appears as the the recent advance has resolved the 12-month coil on the weekly chart. The daily chart could be forming a powerful half-mast pennant, which would be resolved by a strong move above 785.

 3.11_PA_weekly

This coil is best seen on the daily chart. The resolution of this congestion zone sets an initial target of $850 with larger targets toward $1,000.

 3.11_PA_daily

Markets: $PA_F $PL_F

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