The first quarter is in the bag. While stocks managed to stay out of the red (barely) to end the first three trading months of the year, I continue to see more exciting setups in the commodities market… 

That makes today the perfect opportunity to talk about some of the bigger trends shaping up so far this year in the commodities space… 

“The palladium trade is down so far,” writes an anxious reader. “What is the timing where we should see a move?”

Well, let’s see…

Palladium has been volatile since its breakout in early March. Take a look:

I’ve circled the post-breakout congestion in red. Despite the wild moves palladium has held above the breakout zone. That’s a bullish sign–and an opportunity to jump on this trade if you missed it a few weeks ago. 

Ultimately, I think palladium will make a bigger move higher from here. Patience is key… 

About Greg Guenthner

Greg Guenthner, CMT, is the editor of the Daily Reckoning’s Rude Awakening. Greg is a member of the Market Technicians Association and holds the Chartered Market Technician designation.