Retest then Pump - Long Idea

2021年2月7日

Hello friends, today I bring you the 4hr chart of Palladium which recently broke the downtrending line and reversed from the important support around $2200. Palladium is running now into resistance around $2365 while RSI turning oversold. I expect the price to pullback to retest the downtrending line which could be a nice opportunity to add long positions after formation of bullish candlestick. As long as the price stays above 2288 on closing basis, Palladium can go higher to the targets outlined in the chart in the next few days/week.

Please share your thoughts and ensure proper money management. Thank you for the support and good luck with your trades.