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PA1. Palladium looks like a solid Buy option

PA1. Palladium looks like a solid Buy option

PALLADIUM FUTURES NYMEX:PA1!

Palladium0.00%% futures are in a corrective Wave C according to my Wave counter. Broke Daily 200 MA and 200 WMA and looks like now have a clear path forward. Daily RSI may be slightly overloaded so there may be a short correction after the immediate ascending but the ending target of 680 figures looks very reachable.

On fundamentals, Palladium0.00%% hasn´t forwarded the Gold0.00%% rally therefore has a similar or bigger room to run. Also, looks like there may be a temporal shortage of a supply for this metal: http://www.metal.com/newscontent/90545_supply-demand-fundame...

Buy: at current levels
SL: 580
TP1: 620
TP2: 650
TP3: 680