Palladium is breaking above the 200 day moving average today and I think it means something… un-bearish.
I have been as mentally whipsawed as the next guy trying to mesh all the potentially bearish signals with all the still-bullish ones. While the PALL/Gold ratio recovered a while ago (bullish) nominal PALL below its 200 day average was a potentially bearish, though minor, sign (the ratio is more important). Well, today here is PALL doing its thing. It’s a cyclical precious metal/commodity.
This is also notable as part of the would-be anti-USD trade as Uncle Buck rises to test a breakdown from the SMA 50. Stay tuned.
Subscribe to NFTRH Premium (monthly at USD $33.50 or a 14% discounted yearly at USD $345.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas, all archived/posted at the site and delivered to your inbox.
You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar and get even more by joining our free eLetter. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.
