I'm very bullish about silver moving forward. I firmly believe that at least 75% of your long holdings should be in physical silver in your own custody. 25% can be in paper contracts, stocks or derivatives. I still think there are good trades to be made on the short side, at least for the time being, but always use a stop loss.
Hi Traders
As we have been seeing very volatile markets in the past week, trading any direction currently is not easy. It is now, more important than ever, to stick to your strategy and do not let yourself be distracted from potential gains you are missing out on. The worst thing you can do to your portfolio is FOMO. Stay cool-headed and trade the obvious....
Palladium - Intraday - We look to Buy at 1474.1 (stop at 1450.1)
Short term bias has turned positive.
Previous resistance at 1475 now becomes support.
We are trading at oversold extremes.
We look to buy dips.
We look for gains to be extended today.
Our profit targets will be 1534.1 and 1544.1
Resistance: 1515 / 1527 / 1540
Support: 1490 / 1475 /...
I think we will see a sharp drop in precious metals in the coming weeks, and I will be looking for opportunities to build my long position for the long-haul.
With the bank failures we've already experienced in the US and abroad, the markets are going to be volatile for the foreseeable future. We should see a sharp decline in metals as larger positions liquidate to cover other positions, as well as selling shares into the market as short positions increase could create a perfect storm.
If we break the neckline, price may test the weekly pivot point 1440.
Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this...
Palladium - Intraday -
We are trading at oversold extremes.
Daily signals are bearish.
There is no indication that the selloff is coming to an end.
Previous support at 1405 now becomes resistance.
We look for a temporary move higher.
50 4hour EMA is at 1408.
We look to Sell at 1403.4 (stop at 1427.3)
Our profit targets will be 1343.3 and 1333.3...
We are trading at oversold extremes.
20 1-day EMA is at 1494.
Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Palladium - Intraday - We...
Our Manual Systematic Program is opening new Palladium short positions.
Sell stop: 1444.5
Guaranteed trailing stop: 0.3% of our portfolio for the first position; 0.6% if second.
Take profit: Guaranteed trailing stop.
Financial engineering: A-book CFDs (Global Prime)
Palladium - Intraday - We look to Sell at 1588.5 (stop at 1611.9)
Trades at the lowest level in 60 weeks.
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
Previous support at 1590 now becomes resistance.
We look for a temporary move higher.
Our profit targets will be 1530.1 and 1525.1...
Keep an eye on Palladium here... looks to be consolidating in a neat bullish falling wedge formation. More importantly, the RSI is making a series of higher highs (divergency) which is warning of a rally to come...
Might be worth looking at a couple of the palladium/platinum plays... Sibanye, Impala, AngloPlat, Northams etc which would be beneficiaries if this plays out
Descending triangle has formed on the weekly chart for Palladium
Last week, was a breakout to the downside.
200 >21> 7 - Red background
RSI <50 lower highs
Bearish
Target $880
WHY WOULD Palladium go down?
I can't tell you with any certainties why it's coming down but I can think of a few potential factors like:
~ Lower demand for Palladium as an investor point...
technically this seems like we just got rejected at the neckline (from underneath) previous support now acting as resistance. Targeting the 200 MA (monthly) also confluence with downturn channel. Macro is commodity deflationary too (short term). Many sales pitches pitching commodity supercycle end of last year. Same as bitcoin supercycle being pitched at $69k
Palladium - Intraday - We look to Buy at 1646.1 (stop at 1626.3)
We are trading at oversold extremes.
Bespoke support is located at 1650.
Offers ample risk/reward to buy at the market.
With signals for sentiment at oversold extremes, the dip could not be extended.
Our profit targets will be 1695.6 and 1705.6
Resistance: 1660 / 1675 / 1697
Support: 1646 /...
