Price in Palladium looks to have taken a potentially more bullish posture than my base case. Green (iv)-(v) of 5 of (3) didn't play out, retracing too deep. I stopped out of PALL for a 9% gain, leaving some on the table.
Blue alt: The past two days are a good start on setting up a much larger wave (3), measured projection off the blue alt 1-2 indicated. Wave circle-i reached resistance at the 61.8% extension. Wave circle-ii held retrace support, albeit a deep retrace. Through resistance (in red) over the prior high adds confidence. Resistance will become support on the way to the mid-90s. Breaking back below that resistance would suggest trouble.
Blue alt: The past two days are a good start on setting up a much larger wave (3), measured projection off the blue alt 1-2 indicated. Wave circle-i reached resistance at the 61.8% extension. Wave circle-ii held retrace support, albeit a deep retrace. Through resistance (in red) over the prior high adds confidence. Resistance will become support on the way to the mid-90s. Breaking back below that resistance would suggest trouble.
