Commodity Blog

On the daily chart of a palladium a pattern has formed. This is a head-and-shoulders pattern. This patter shows that a downward breakout is possible from current support level (blue line) to target price $338.92 (bottom red line). The level of target price will become new support level. The top red line (shoulders level) indicates a stop-loss level in case pattern would not be confirmed. Click the image to enlarge it to a full-size screenshot:

If you have any questions or comments regarding this chart pattern for the palladium, please, feel free to reply below.