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.
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