Over 50% of PALLADIUM supply (and its congener, PLATINUM) is used in catalytic converters, These convert up to 90% of the harmful gases in automobile exhaust (hydrocarbons, carbon monoxide & nitrogen dioxide) into less harmful substances such as: nitrogen, carbon dioxide and water vapor.
As a primary metal for the automobile industry, particularly in the USA - I believe it's accurate, To say that PALLADIUM is providing a historical evaluation of economical progress in the United States.
The main methods of transport (Cars, Trucks, Tractors, etc.) are huge driving forces behind active commerce.
Manipulated markets (E.G. Dow Jones, S&P500) do NOT provide correct valuations regarding economical progress, To my knowledge, PALLADIUM adjusted to natural fluctuations as they should appear (without FED interference).
Based on bearish sentiment, I expect PALLADIUM to drop to $1,100 & below (alongside #DJI), This is roughly 50% from its previous fibonacci support level as shown in the chart above.
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