Palladium Gets Its Groove Back

After briefly retracing mid-month following a triple top breakout, PALL – our proxy for Palladium – has just formed a fresh double top breakout, a move that P&F chartists commonly refer to as a bullish catapult. The implication here is that, while elimination of supply at the triple top level caused prices to temporarily fall back, new buyers stepped in at those lower levels, creating fresh demand which in turn is powering prices even higher.