Palladium: Remaining Bullish in 2020 before 2021 Consolidation
Palladium has quietly ran up as much as 65% YTD at one point with a likely 'finish' around +53-54%. In my forecast, I believe Palladium will reach roughly 2400-2500 by the end of 2020 with a more aggressive short coming sometime in Q1 in 2020 (Jan, Feb or March) and one later in the year in Q4 of 2020 (October, November or December).
Production relative to demand remains considerably unmatched and this trend will continue through 2020. Because equities will remain at-least modestly bullish in 2020, there is no reason for the automotive sector to drastically deteriorate, and as such, Palladium demand will remain strong despite random bears trying to say otherwise. Moreover, the strong demand from international markets like China and India will push Palladium higher than most people think in 2020.
The overall 'bull run' of Palladium will end once the price falls BELOW $1650.
Note: The dips may be slightly more aggressive than what I have drawn here, however, the overall prediction, trend and timing remain accurate.
- zSplit
Production relative to demand remains considerably unmatched and this trend will continue through 2020. Because equities will remain at-least modestly bullish in 2020, there is no reason for the automotive sector to drastically deteriorate, and as such, Palladium demand will remain strong despite random bears trying to say otherwise. Moreover, the strong demand from international markets like China and India will push Palladium higher than most people think in 2020.
The overall 'bull run' of Palladium will end once the price falls BELOW $1650.
Note: The dips may be slightly more aggressive than what I have drawn here, however, the overall prediction, trend and timing remain accurate.
- zSplit
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