Palladium remains a difficult metal to trade and given the bounce of the 50% retracement at 754, we are seeing a strong demand and potentially higher move off this price. We cannot rule out another attempt to take out 787.
1st Buy on the break of 787 with a stop at 778 (risk 10 points) target 804 (reward 17 points).
2nd Buy should price pullback between 765 - 775 level with stop at 756 target between 790 to 800 level.
Should the target profit hit, we could look to reverse the trade and short Palladium.
1st Buy on the break of 787 with a stop at 778 (risk 10 points) target 804 (reward 17 points).
2nd Buy should price pullback between 765 - 775 level with stop at 756 target between 790 to 800 level.
Should the target profit hit, we could look to reverse the trade and short Palladium.