My latest bearish signal for palladium was on 23 April 2016.Since then price of palladium dropped by 7.26 %.This week I got a bullish signal for this commodity based on the total number of new long contracts opened (1,613) vs net number of old short contracts opened(87) in the last 2 weeks.This means new long contracts opened outnumbered new short contracts opened by almost 19 to 1 in a 2 week period.Moreover I got a Pearson correlation coefficient(PCC) = -0.98 for the last 3 weeks for this commodity.This means a very strong negative correlation which means bullish sentiment has been raising very fast and bearish sentiment has been dropping very fast in the last 3 weeks.Therefore I expect price of palladium to rally in the coming days/weeks.Check out my strategy and trackrecord2016 file on my free websites:
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