From NFTRH 506:
Cyclical Palladium is still in breakdown mode. Not good for macro bulls if this persists. Platinum still appears headed for the test of the 2016 low, which is 811.
Below is the chart we use each week in the Commodities segment. We actually use the ratios of Palladium (and Industrial Metals) to gold to gain a view of the macro’s cyclicality, but the nominal break in Palladium needs to get cleaned up as well since this is a cyclical metal.
As for Platinum, wow. That red shaded area had been critical support and when it was lost we loaded a target of 811, which was the January 2016 low. Well… boink!
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