Last month, we discussed the Palladium ETF $PALL hitting fresh 7-year lows, breaching a critical support level.
However, the bears could not gain any downside momentum, and it seems like we're nearing a cyclical trough.
Commercial hedgers have never carried a larger net-long position. Historically, it has been prudent to not bet against the smart money in commodities markets.
And one of our favorite long-term momentum indicators, the monthly MACD, has now given us a buy signal. That said, it's still a bit messy in the short term.
Let's talk about it.
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