Palladium Daily Chart Bull Market Review

Every trend comes to an end eventually. Palladium sure started out with a decent impulse wave structure, but that started to fall apart starting in early 2017. From then on Palladium converged in a wedge like pattern, with smaller and smaller wave structures.   The waves also started to overlap about the same time, which suggests a diagonal 5th wave, or a “C” wave bull market is in progress.

There could be more upside, but  I think a big correction is coming, and this entire bullish phase could get retraced.  The previous 4th wave of one lesser degree could take Palladium back to the $660 price range. Palladium prices may be  linked more to the economy than investing demand so if there is an economic slowdown, then Palladium prices could take a big hit.

Palladium seems to have rolled over a bit already, but this could be just a little flat.

Hits: 1