Palladium Futures—The strongest bullish trend out of all commodity sectors is palladium which continues to march higher up another $17 at 1,772 looking to crack the 1,800 soon in my opinion. If you have been following my previous blogs you understand that I believe prices could touch the 2,000 level in the coming weeks ahead as strong demand and limited supply continues to push prices to levels never seen before and I do not think that situation is going to change anytime soon.
If you are long a futures contract continue to place the stop loss at the 10 day low which stands at the October 23rd low of 1,703 as an exit strategy as the chart structure is excellent at the current time, however the stop will not be moved for another 5 trading sessions so you will have to accept the risk at this time.
Palladium prices are trading far above their 20 & 100 day moving average as this trend is very strong so continue to place the proper stop loss.
CHART STRUCTURE: EXCELLENT
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
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