Palladium (spot) - Weekly

Palladium is a precious metal using in catalytic converters, jewellery and some electrical components

Palladium has stormed up in 2019 going from $1,600 to $2,700. The metal then crashed but has since been rising slowly. MACD is about to turn positive again and the chart trends in the upper Bollinger band. Over the long term, initial targets are $2,256 and then $2,428. To the downside, plenty of support sits below at $1,750 (which is the multi-year trendline support). If a position is ever taken in this as a longer-term trade (either short or long) - Futures contracts will offer the best value for money, most probably.