Sorry guys for the spam. Fomo is just too strong right now 🥴
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ETFETFDiscussion about SPAL
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5And the journey continues 🐊
On the left in the picture, my favorite colleague when I start talking about palladium at work.
Palladium $SPAL (-0.7%) has done very well since the low. Unfortunately, my target zone of $972 to $887 per ounce was not reached in the last minor correction. Due to the divergences in the RSI, as shown by the red arrows, I still hope that the price will come down again. So if anyone is interested in palladium, it could soon be exciting to enter the market again.
Hello guys.
Commodities are very interesting at the moment, so I've brought along a little update on palladium. Pd has now broken out of the short to medium-term downtrend for the time being. However, the actual target zone of 733$/oz remains in place. In the long term, a further dip below the 733 mark would be better (better rtr), as it would be possible to really reload there. If the price does not fall that low again, alternative entry points will have to be considered, e.g. after the completion of a wave 2.
Investment: $SPAL (-0.7%)
The divergences formed when the price falls can be seen nicely in "red".
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Because it is so beautiful, I am also addressing the topic of uranium today. The picture is similar in the uranium sector. You can play this sector via ETFs $U.UN ETFs, but I, for example, trade it via the share $UEC (+0.48%) . UEC is currently building a wave 2, whereby the bottom could already be in, similar to Pd. However, the downside for a deeper dip is significantly higher than for Pd. Here, prices at UEC of 1-2 dollars are even possible again (but this is not the primary scenario) The divergences and the retest of the 200 line can also be seen in "red" in the screenshot. A rise into wave 3 should take us into the 18-20 dollar range.
As always, however: No investment advice 🤣 It is enough if you can stimulate some thoughts here. Opinions and additions welcome.
Have a nice weekend
Palladium stocked up further. The weekly RSI of Pd has recently been in oversold territory for only the 5th time since 1986. Price target: 6000$
A lot is still possible in terms of price and we will also see good returns here.
But it's nice for me to see someone writing something about commodities.
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