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Post by David on Mar 26, 2006 23:54:10 GMT -5
Palladium Mkt Update - Palladium traded as high as 324, 6 points away from our target. It appears to be putting in a short term topping formation and if it does not blast through 330 soon on high volume without flashing a negative divergence it’s going to enter into a corrective phase that could last from 3-9 weeks. If this situation should unfold it will provide another opportunity for those who missed the first move to get on the bandwagon. 3/21/06 David - Mkt update initial target of 330 was indeed hit, Put in new high on Fri but did so on unimpressive volume and also see a neg. divergence in CCI. I see this as a possible false breakout. Next weeks action should prove if this is the case or not.
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Post by David on Apr 2, 2006 21:51:00 GMT -5
Wild week of trading, the first four days price action actually confirmed the breakout. Then friday a hard correction with lows going below new support. However prices closed near days highs which is bullish.
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