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Showing posts with label Palladium. Show all posts
Showing posts with label Palladium. Show all posts

Sunday, September 14, 2014

Elliott Wave Analysis of Palladium


I posted a chart on Stock Twits a few months back suggesting this market was likely in a terminal 5th wave and around 900 could seen.We have since hit that target, although there have have been a couple of time I actually did think wave 5 was completed.

However in light of the recent decline it could now have a peak in place. What i am looking for is a 5 wave decline from the yearly highs, that would offer evidence to suggest a peak was likely in place. Any bounce should stay below $865 then continue lower to complete a 5 wave decline, any bounce thereafter in 3 waves will offer a setup to sell again.

This has the potential to see a strong decline now.

Thursday, April 25, 2013

Is Gold Really Bullish?

If you only looked at Gold you could be thinking its strong and bullish looking, and i would agree with that, its most certainly stronger than the other metals.

But the clues from Palladium as well as Silver could also be telling the next likely price action in the metals.

If you look carefully at PA and SI they suggest a triangle, and i suspect its a 4th wave triangle, so whilst GC has pushed higher the other metals have lagged severely.

The next expected decline on SI and PA is a move lower and "thrust" lower for wave [v], so i still suspect Gold will follow and eventually push lower and join the other metals when they have finish the triangle patterns.

Tuesday, January 8, 2013

Elliott Wave Analysis of Palladium

With the strong reversal from the 719 area this looks like a potential major top is in place, for Palladium, so traders can look to sell any weak rally, against the last swing higher (blue line) at 719 for an expected move back under 525, that's a huge move that i am expected, but the last 15-16 months appear to be a simple 3 wave bounce, whilst it narrowly missed my target area, the reversal appears to be impulsive looking

Which argues for a major high in place