rounded corner
rounded corner
top border

Palladium Buying the Elliott Wave dips

Bookmark and Share

In this Technical blog, we are going to take a quick look at the past 1 hourElliott Waveperformanceof Palladium. Which we presented to our clients are going to explain the structure from10/16 (1005.21) cycle below.

Palladium 1 Hour October 18 Asia updated Elliott Wave Chart

Palladium Buying the Elliott Wave dips

A rally from 9/20 low (898.27) to 10/16 peak (1005.21) ended the intermediate wave (W) higher as a flat. Where Minor wave A ended at 938.78 peak, Minor wave B ended at 904.38 low and Minor wave C of a flat-ended in 5 waves at 1005.21 peak. Below from there, metal was expected to do a pullback to correct that intermediate cycle in wave (X) and was expected to find the buyers in a sequence of 3, 7 or 11 swings. It is also important to bear in mind that, in the above Chart, we can see that there is a green arrow to indicate that the trend is up, the bullish Sequence mark to maintain the sequence is also bullish. So, we advised our members to buy the dips in the metal on any blue box in 3, 7 or 11 swings provided the pivot at 9/20 low (898.27) stays intact.

Palladium 1 Hour October 18 Midday updated Elliott Wave Chart

Below from wave (W) peak, the metal corrected that cycle in 3 waves as zigzag correction.Where Minor wave A ended in 5 waves at 969.77 low, Minor wave B bounce ended in 3 swings at 986.85 peak and Minor wave C of (X) was expected to end 5 waves in between 949.06-925.45 100%-1.618% Fibonacciextension area of A-B. And that area in the metal was expected to see buyers for new highs ideally provided the pivot at9/20 low (898.27) stayed intact or for a 3 wave bounce at least to allow our members to create a risk-free position.

Palladium 1 Hour November 08 Elliott Wave Chart

The metal gave us the reaction higher as expected from the area in between 949.06-925.45 100%-1.618% Fibonacciextension area of A-B and ended the wave C of (X) at 942.90 on 10/19 low. Afterwards, metal broke to new highs suggested that the instrument started the intermediate (Y) leg higher already. The 1 hour NY updated chart from 11.08 above, is showing metal breaking higher and showing another bullish sequence within the cycle from 9/20 low. And was looking to start the Minor wave B pullback from 1016.13-1023.63 area before further upside. If interested in latest 1hr, 4hr, Daily & Weekly path thenTry 14-day Free Trial& get the latest market update in Palladium & other commodities as well.

Recent articles from this author

About the author  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. is not a broker, nor does it have an affiliation with any broker.

Copyright ©2005-2018, a product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy