Hello fellow traders. In this technical blog we’re going to take a quick look at the charts of Palladium Futures published in members area of the website.  As of right now Palladium is giving us nice reaction from the Weekly Blue Box area. We’re calling August 2018 cycle completed at 1577 peak and now getting deeper pull back. The price is showing incomplete swings sequences in the cycle from the 1577.07 peak suggesting further separation lower . Break of 03/28 low has opened possibility for further extension downside. Consequently the commodity is now targeting 1137.8 area. In further text we’re going to explain the Elliott Wave structure and forecast.

Palladium Elliott Wave Weekly Chart 1.17.2019

In the yearly forecast, we were looking for a August 2018 cycle to end in blue box (1503 – 1664 as noted on the chart) and a reaction lower to take place. We were looking fora larger pull back that will correct the cycle from the 816.01 low at least.  As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a reaction.

Eventually Palladium reached proposed blue box in weekly chart and August 2018 cycle ended at 1577.07 high.


Now,let’s take a loot at the short term price structures.

Palladium Elliott Wave 1 Hour  Chart 4.4.2019

The price ended short term cycle from the 1577.07 peak as 5 waves structure, labeled as wave ((A)) black.  We ended clear 3 waves bounce against the 1577.07 high, hence short term recovery can be counted completed as ((B)) black. Now we need to see break below wave ((A)) – 03/28 low to get confirmation next leg down ((C)) is in progress.


Palladium Elliott Wave 1 Hour  Chart 4.5.2019

The price has broken 03/28 low. Consequently , the commodity is now showing lower low sequences down from the 1577.07 peak. Palladium became bearish against the 1413.84 pivot. Seems like we are ending 5 waves down from the mentioned peak most likely. Consequently we are calling for further weakness. We expect short term bounce to correct the cycle from the 1413.84 high before further decline takes place. Proposed bounce should ideally reach 50-61.8 % Fibonacci Retracement area.


Palladium Elliott Wave 1 Hour  Chart 4.10.2019

Finally we got proposed bounce. The price is correcting the cycle from the 1413.6 high, when recovery is labeled as ABC red Zig Zag Pattern. As of right now we can still be in C red that can be unfolding as ending diagonal.  As far as the price stays above bottom wedge line, we can get another short term high in wave ((v)) of C . We don’t recommend buying Palladium and favor the short side against the 1413.61 peak. Alternatively if 1413.61 pivot gives up, we can be doing Irregular Flat against the 1577.07 peak toward 1402-1469 area.

Keep in mind market is very dynamic and proposed view could have ended in the mean time. You can check most recent updates in the Membersip Area of the Website .  Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.




Become a Successful Trader and Master Elliott Wave like a Pro. Start your Free 14 Day Trial at - Elliott Wave Forecast.

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD's range play continues ahead of Eurozone Consumer Confidence

EUR/USD remains directionless despite the drop in the US treasury yields. An above-forecast Eurozone Consumer Confidence will likely push the pair higher to the trendline falling from June highs. 


GBP/USD sits at 2-month tops ahead of key Brexit talks

Fresh optimism surrounding the Brexit deal propels GBP/USD to a two-month high. Brexit talks between the EU's chief negotiator Michel Barnier and UK Brexit Secretary Stephen Barclay will be the key.


USD/JPY: Bears eyeing break below 107.45

USD/JPY trades modestly flat, with the bias leaning to the downside, as we wind down into the close for the week following a data-heavy number of sessions which have left more questions unanswered and the outlook murky. 


Markets unmoved by Fed cut and pause

The Federal Reserve’s latest twist in monetary policy, reducing the fed funds for a second time in two months and then pausing for instructions has left markets without a clear direction on interest rates. Equites ended mixed.

Read more

Gold holds on to recovery gains amid trade/political pessimism

In addition to bouncing off multi-month-old rising trend-line, Gold gains support form recently downbeat trade/political headlines while taking the bids to $1,500 during Friday’s Asian session.

Gold News

Forex Majors