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- This Precious Metal Is Getting Ready To Launch With This Chart Pattern
This Precious Metal Is Getting Ready To Launch With This Chart Pattern
Become A Better Trader And More Informed Investor
On Thursday, CPI numbers came in hotter than they were predicted to be, showing us that inflation is not really going away.
More importantly, for us, the price of palladium is lining up to rocket up.
Take a look at the above chart and you can see how its 200-day Bollinger Bands are coming together, doing so while palladium has been trading in a stage one base, with long-term price resistance at $1100 an ounce.
This is the same situation gold was in back in February, silver was in March, and the Chinese stock market was in last month.
So, yes I’m watching palladium very closely now.
The $1100 level on it is like what $26 for silver was back in March.
Are you watching it?
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And…..
Last week I talked about ANET as a stock to watch for a breakout to new highs and yesterday it did it, while the Nasdaq had a down day.
Now ANET didn’t soar, even if it went up.
This was just a very short-term consolidation and consolidations lead to bigger moves when they take months to play out instead of days.
I didn’t actually buy the stock or trade it, but I do own a major palladium mining stock, as WSW Pro members know.
-Mike
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