Palladium with breakout

NYMEX:PA1!   Palladium Futures
The picture in the palladium is bullish .
  • The largest use of palladium today is in catalytic converters. Palladium is also used in jewelry, dentistry, watch making, blood sugar test strips, aircraft spark plugs, surgical instruments, and electrical contacts. Palladium is also used to make professional transverse (concert or classical) flutes. As a commodity, palladium bullion has ISO currency codes of XPD and 964. Palladium is one of only four metals to have such codes, the others being gold , silver and platinum. Because it absorbs hydrogen, palladium is a key component of the controversial cold fusion experiments that began in 1989.
With the break of the last high at 930, there is a lot of space to the up site. At the same time, the now available support can be used as a stop loss level. This results in a trade with a risk-reward-ratio of 1:4.


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