Quick Palladium Review

 

pay00-dec-5-2016

 

Palladium, recently hit another high peak, which sure seems like the opposite of what gold has done recently.  At the recent top, and at the intraday level, it sure looks like the computer generated trades were working overtime.  

Eight spikes to the downside, all stopping at the $720 price level is too much of a coincidence, and too perfect for humans to produce. Besides, those spikes can be very bullish. At this time the 2016 rally looks more like a triangle, so I have to run it for a short period of time, to confirm or break a potential triangle.

If all we do is get a correction, then a bigger zigzag may be in progress. A bullish correction would break the bottom trend line, but it would also still travel to new record highs.   

I track about 13 or more asset classes, and all wave counts will suffer, the more I tackle by myself.  At least a correction should be due, but what type of correction will be a mystery at this time. 

 

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