- PALL has rebounded strongly since late September, which has been part of a broad-based rebound in the precious metals after the rally in the dollar paused.
- Although platinum has enjoyed a relatively stronger upward pressure, we think that palladium may outperform in the months ahead, mainly thanks to its firmer fundamental picture.
- Palladium’s technical market action has been very bullish, with prices making higher highs and higher lows since April, which could attract the CTA community.
- The seasonality of palladium is friendly in Q4, leading us to believe that the rebound in PALL has more to run. Our bullish target is $260/share over a three-month view.
For further details see:
PALL Weekly: Back In Rally Mode