Signal Update: Our BUY Signal on Palladium (PA) Has Hit Our First Take Profit Target at $2,300 !
The Precious Metal Palladium (PA) Is Once Again Ready for a Move Up. After spending the month of August correcting some of the July up move. Palladium is setting up perfectly for a break higher. Looking at the chart, we can see nice price consolidation during the month of August, while moving averages 50 (green) and 200 (red) are both rising with MA 50 above 200 and price is hovering just above them. This pattern provides great support on the downside and good momentum on an upside breakout. Accordingly, we suggest to BUY Palladium at current $2,200-2,220 price level and set Take Profits Targets at $2,300 and $2,500 for a start. We will review the trade again once we hit our take profits targets.