Those trading within the metals asset class should know that copper was the worst performer in the class today.
Out of the 5 instruments in the metals asset class, palladium ended up ranking 3rd for the day in terms of price change relative to the day prior.
Extremely undervalued & highly leveraged to a rising silver price.
Relative to other instruments in the metals asset class, platinum ranked 4th since the previous day in terms of percentage price change.
Relative to other instruments in the metals asset class, gold ranked 2nd since yesterday in terms of percentage price change.
A bunch of front companies sold him a whole lot of gold but the gold price didn’t do anything because the supply was from lead.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
For additional context, note that price has gone down 16 out of the past 30 days.
Or to view things another way, note that out of the past 30 days palladium’s price has gone down 17 them.