I Am Bullish Palladium Prices
Michael Seery of Seery Futures - InsideFutures.com - Tue Jun 11, 3:55PM CDT

Palladium Futures---Palladium futures in the September contract is trading higher for the 4th consecutive session up 200 points at 1,388 as I'm now recommending a bullish position while placing the stop loss under the May 9th low of 1,259 as the risk is $13,000 per contract plus slippage & commission as this trade should only be taken with a $500,000 or larger trading account.

Palladium prices are now trading above their 20 & 100 day moving average as prices bottomed out in my opinion at the 1,300 level as this market still remains very bullish.

The next major level of resistance is the April 29th high of 1,453 & if that is broken I think we could test the contract high and all-time high which was just hit on March 21st at 1,563 as the chart structure is outstanding at the present time and if you take a look at the daily chart it looks like a possible rounding bottom might be at hand.

At the current time my only other recommendation out of the precious metals is a bearish copper trade as these 2 commodities can go in opposite directions so look to play this to the upside as this is one of the highest margins and highest volatility in the commodity world at this time.

TREND: ----HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: HIGH

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