Metals Mash Up

Palladium still near record highs and looks to test $1800 now:

Nickel has been correcting for a while and now danger signs are appearing. It has broken below its prior lows and has had a bearish MA crossover. Looks bearish going ahead targeting $15380

Some interesting nickel news coming in today. Mine closure in Papua new guinea and LME inventory plunge. But for now the price is in a downtrend, as shown in the chart above.

A very interesting article on Palladium, and how it has been outperforming Gold. https://www.metalsmine.com/news/9573...ces-in-2019-is

Most notable chart there is this in the article. How Palladium prices are co-related with China total vehicle exports:

Palladium is as of now trading very close to record highs, headed towards $1800.

Excellent article on Nickel which everyone would be interested in reading: https://www.metalsmine.com/news/9580...s-what-happens

Palladium tested above $1800 (new record highs) and is trading just below that level, with no signs of rally having ended yet. I expect fresh newer highs in the coming days:

Nickel is extending its correction and is very close to its 3-month lows and is close to making lower highs and lower lows. A break below $16052 will confirm that. My target remains the same as in this post. 15380!

One of the biggest reason for Palladium price surge: Pollution-control devices drive palladium price surge

Palladium is in a "correction" and is now targeting $1626

Nickel now super close to $15380 and if that is broken then another 7% fall is likely!

Platinum near a super important support of $868 which if broken would lead to a test of $790

Excellent article on Palladium: Did Palladium fly too close to the sun

Copper looks to have broken below its 45 days uptrend and is now perhaps headed towards 2.56

Silver currently is in a free-fall and is likely headed towards $16.6 which is an important support. A break below, which is likely would result in a fall towards $15.90

Today we have 2 conflicting news on Platinum:

Reuters saying Investors have pushed Platinum for deficit but surplus will return
Mining weekly says the market is in Balance but surplus will return

Both agree that Surplus will return which indicates near term outlook for prices are cloudy, but in slightly longer term, the prices are unlikely to have a run away rally!

Chart says PL is headed no-where with Support close to 870 and resistance at 950

PL, within the range is headed towards the lower bound of 870 now

After breaking into a fresh downtrend, Palladium has overcome selling and now is challenging close to its all time highs. Fresh longs would be recommended only on new time highs

A nice article on Palladium, so thought I may share: What makes Palladium so valuable