Palladium and Platinum are on the roll – TDS
Source Fxstreet
Commodity Trading Advisors (CTAs) are back on the bid in PGMs, as the recovery in prices catalyzes buying programs in both Platinum and Palladium, TD Securities Senior Commodity Strategist Daniel Ghali suggests.
The odds of a leg higher in Palladium rise
“Has the short-squeeze in Palladium run its course? Our advanced positioning analytics suggest CTAs are back on the bid in PGMs, as the recovery in prices catalyzes buying programs in both Platinum and Palladium, raising the odds of a renewed leg higher in Palladium prices.”
“Our simulations of 500 scenarios for future prices over the next week suggest that CTAs could cover their entire short book in Palladium in an uptape. The squeeze on systematic Palladium shorts may still have some room to run.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.
Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
West Texas Intermediate (WTI) oil price opened at a bullish gap, trading around $83.50 per barrel during the Asian hours on Monday.
Gold Price Trend Forecast: Expectations of Easing US-Iran Tensions Boost Gold Prices, $4,070 Becomes Key Level for Bulls and BearsAs of the Asian session on July 21, gold prices ( XAUUSD) staged a rapid intraday rebound, rising 1.56% on the day to touch a high of $4,084.28. From a technical perspective, gold prices
As of the Asian session on July 21, gold prices ( XAUUSD) staged a rapid intraday rebound, rising 1.56% on the day to touch a high of $4,084.28. From a technical perspective, gold prices
The USD/JPY enters a bullish consolidation phase during the Asian session on Wednesday and holds steady above the 163.00 mark, near its highest level since 1986 set the previous day.
Related Instrument
