On January 24, 2020, we said the following of Palladium:
“Because of the precedent set in the period from 1996 to 2001, we expect that the conservative downside target of $1,627.93 will be achieved.”
Below is the charting of our assessment and the subsequent price action.
Not only did palladium decline below the target of $1,627.93, the price of palladium fell to $1,370 on an intraday basis on March 19, 2020, almost exactly half the distance between the conservative and mid-range targets.