Palladium Prices Lower On Profit Taking

Palladium Futures---Palladium futures in the September contract is currently trading lower by $6 at 1,526 taking a breather from its recent torrid run to the upside as strong demand coupled with the fact of low supply continues to propel prices higher despite today's action.

I have been recommending a bullish position from around the 1,388 level & if you took that trade the stop loss now has been raised to 1,435 as the chart structure will turn outstanding on a daily basis therefor the monetary risk will be reduced substantially.

Palladium prices are trading far above their 20 and 100 day moving average as it looks to me that we are going substantially higher in palladium and the precious metals as I now have bullish recommendations in silver and in copper and I still think gold prices look cheap so stay long and continue to place the proper stop loss as who knows how high prices could trade.

When you trade the commodity markets you have to let your winning trades go as far as they can go due to the fact that you will have many losing trades as risk management is the key to success in my opinion as cutting losers quickly and adding to winners over the course of time is the way to trade in my opinion.

TREND: ----HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: HIGH

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

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