Just a few days ago we alerted our members and followers to a massive setup in the Palladium market that had not been seen in years. This chart formation provides an incredible opportunity for a trader to take advantage of and profit from the expected price decline. We alerted our members and followers in late January of this move.
As of Thursday, Palladium rotated downward by over 9% from the recent highs and should continue to move lower as this multi-month rotation extends. Even though this initial move lower (-9%) reaches our initial predicted target levels, we still believe support won’t be found until prices reach near the $1000 price level. If that support fails to hold, the price of Palladium could fall to the $900. This total move could be over -20% by the time this downward swing ends.
As an additional bonus, the other metals and Miner ETFs are starting a move in correlation with this massive rotation in Palladium. The aggressive move in Palladium may become a catalyst for the other metals and miners to sell off further.
We warned weeks ago about this cycle top in gold and how it should rotate lower and move to near $1300 before finding support. This move has just started really and would equate to a -3.8~4.2% downward price correction.
The ability to see these moves and act on them provides our members with the ability to take a single trading signal and deploy multiple successful trades from it. We got our member’s long Direxion Daily Gold Miners Bear 3X Shares (NYSE:DUST) near the very bottom of the market in anticipation of this move in the metals markets. Knowing that this move was set up and that it could be somewhat aggressive, we simply waited for the proper setup and trigger to alert our members.
The overall potential from our DUST trade remains substantial. Currently, we have already locked in +11% for our members and we believe the final move could be much larger.
