Palladium Sets Up Another Double Top Pattern | Metals Mine

  • Palladium Sets Up Another Double Top Pattern

    From thetechnicaltraders.com

    Is this Double-Top setup in Palladium another warning of a potential downside price move? Back in April 2018, we issued a Double-Top pattern warning in Palladium which preceded a downside price move of nearly 28%. We believe this new Double-Top pattern may prompt a downside price move of nearly 20% – targeting the $1240 level. This Weekly Palladium chart highlights the YELLOW Double-Top pattern formation that we believe may prompt a new downside price move. Our expectations are that any new price weakness in Palladium will push prices down to the BLUE Fibonacci projected target level near $1240. Additionally, should ... (full story)

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EF5
Jul 3, 2019 5:04pm
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The prior high was 1576.9 so that level is key.

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I'd think all traders would watching that level closely. You could put on a low risk short now, but I wouldn't dare buy until it gets above 1577.
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EventsTrader
Jul 4, 2019 6:06pm
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It's a little riskier when that double top is Palladium testing all-time highs for the second time. It looks like a break out is coming (and new ATH) from where I'm standing.
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