Today, palladium is experiencing a significant upswing, but it's essential to understand the context of this movement. In the midterm and long term, palladium has been in a downtrend. However, at the beginning of May, a bullish correction began, forming a flag pattern marked by orange lines. This flag ended with a breakout to the downside on Thursday, pushing the price lower On Friday, palladium met a key horizontal support level, marked in green, which has provided a foundation for the current bullish correction. Despite this bounce, the influence of the recent breakout from the flag pattern remains a bearish signal. To trade this situation, it is prudent to wait for further confirmation. A breakout below the green horizontal support would signal a sell opportunity, indicating that the bearish trend may continue. Conversely, if the price moves back inside the flag pattern, it would suggest a potential buy signal. Given the current market sentiment, the first scenario—breaking the green support—appears more probable, suggesting a continuation of the bearish trend.
The downtrend started 2 years ago. How did the Prime Academy manage to sleep for so long? Please continue to sleep and don't bother to wake up. Maxinger Academy
You can always know who knows so little of a profession they are in....no way to short as very little profit to be had. Huge Head and Shoulders bottom. I don't know if lows are in, but I can only take longs.