Palladium Fulfilling The Bears’ Desires
EWM Interactive | Apr 01, 2015 09:06AM ET
“The bulls must be careful, because a reversal to the downside is likely to occur. A reversal, which could be the beginning of a larger move to the south with the potential to lead prices below $730.” That is what we wrote about palladium on March 9th in “Fibonacci To Force Palladium Down”. Our bearishness was based on Elliott Wave anaysis. It suggested we should prepare for the resumption of the downtrend, because there was a complete 5-3 wave cycle on the daily chart of palladium, shown below.
As it turned out, palladium was weaker than we thought, because prices did not even reach the 61.8% Original post
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