“I'm enjoying your book which should make me a better trader. You discuss supply and demand and ultimately price action as being highly important. I wondered what you thought the price action of palladium is saying with regards the forces of supply and demand?”
Eoin Treacy's view Thank you for your kind words and
I’m delighted you are enjoying Crowd Money. Following a spectacular rebound
from the 2008 lows, palladium accelerated towards its 2011 peak and pulled back
sharply in the latter portion of the year to post Type-2 medium-term top characteristics.
It has been ranging below $800 since.
The fact that global supply of the metal is relatively inelastic has helped support prices at these levels and palladium has firmed in the region of $700. However, a sustained move above $770 will be required to suggest a return to demand dominance beyond the short term.