The Palladium ETF (PALL) fell along with gold last week, but managed to firm near the early March low and bounce off support today. Notice that broken resistance turned into support in the 70 area. The indicator window shows PALL relative to the Gold SPDR (GLD). PALL outperformed from November to early March and relative performance turned flat the last six weeks.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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