Tuesday, March 25, 2014

Rising Tension Between West-Russia=Rising Palladium?

Here (http://www.zerohedge.com/news/2014-03-24/guess-which-precious-metal-controlled-russians) is an interesting article about palladium.Most of the worlds palladium is minted in Russia.So maybe there is a correlation between the events in Krimea and prices of palladium.Our technical view for Palladium is the following

Which may mean that tensions may escalate between West and Russia.

Technical View

Palladium recently broke up from a triangular consolidation pattern (or from a handle of a cup),retraced to the upper line of the triangle in order to test the breakout, bounced and is now heading towards 817$ and possibly 853$