Palladium Prices Hit All Time Highs This Week

Palladium Futures---Palladium futures in the December contract settled last Friday at 1,670 while currently trading at 1,725 up about $55 for the trading week hitting another all-time high as this commodity has the strongest trend out of all sectors.

If you are long a futures contract continue to place the stop loss under the 10-day low standing at 1,605, however next Tuesday that will be raised to 1,630 as the chart structure will start to improve on a daily basis therefor lowering the monetary risk.

If you have been following my previous blogs you understand that I think there is a realistic chance prices could hit 2,000 in the coming weeks ahead as strong demand and limited supplies continue to push prices higher as I see no reason to be short. Palladium prices are trading above their 20 & 100 day moving average as the trend is strong to the upside as the volatility will remain high for months to come.

For the bullish momentum to continue prices have to break the October 17th high of 1,750 as this is the perfect example of why you trade with the trend as going with the path of least resistance is the most successful way to trade in my opinion.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: HIGH

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 as I will be more than happy to help you with your trading or visit www.seeryfutures.com

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Email: mseery@seeryfutures.com

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