Palladium: Bullish continuation on ideal conditions.

XPDUSD (Palladium) has made a new Higher Low on its long term 1W Channel Up (MACD = 89.310, Highs/Lows = 86.3564, BBP = 189.9320) and due to the overbought RSI = 77.424, it should slow down its uptrend within the next 20 sessions. This doesn't necessarily mean that it has to consolidate sideways, but as it did on the late Oct - lat Nov period, it may rise slowly on a more standard Channel Up. 1D has created the perfect conditions for this (RSP = 58.571, Highs/Lows = 0.0000). We are going long again on Palladium with TP = 1,455.

See our previous long term bullish report on Palladium (compared to Gold) and its strong long term buy bias.




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