Palladium

Uptrend still in place in Minor wave 5  :

On this log scale weekly-frame of Palladium, the wave counts explain a six years rally in overlapping waves, as an extensive ending diagonal which is in the late stages.

The recent rise from the 723 low of Minor wave 4, as an initial move, would indicate that price will continue to climb higher in final rally of Minor wave 5 in the coming months. The wave 5 should carry above the 913 high on September 2014, to complete the Intermediate wave (C) as an ending diagonal.

Based upon this concept, the outlook remains bullish, as long as the fourth wave’s low at 723 holds.

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Palladium

Bull trend in place in Minor fifth wave  :

On this frame of Palladium’s weekly chart, the wave counts explain the overall rally in overlapping waves as an Intermediate ending diagonal which is in the late stages.

The recent rise from the 723 low of Minor wave 4, as an initial move, would indicate that price will continue to climb higher in final rally of Minor wave 5 in the coming months. The wave 5 should carry above the 913 high on September 2014, to completed the Intermediate wave (C) in an ending diagonal.

Based upon this concept, the outlook remains bullish, as long as the 723 fourth wave’s low on March 30 holds.

Palladium

The bullish view :

On the ongoing ending diagonal wave (C), Palladium has begun to rise in another three-waves now as the wave 5.

Note : “Waves 1,2,3,4 and 5 of an ending diagonal, always subdivide into zigzags.”

The outlook on this frame of chart still remains bullish against the 723, through the range of 913-956.

Palladium

Under the bullish view :

Palladium appears to have completed a fourth wave of the ending diagonal (C), and begun to rise in its fifth wave from 723.

Palladium

The bullish outlook :

After completing three waves down as the wave 4, Palladium apparently has started its way up. A rise in three waves as wave 5, will likely achieve to near the 956.60 level.

Palladium

On this frame of Palladium’s weekly-chart, I have explained an ending diagonal as the wave (C) of B of primary degree that may be underway.

Currently, on the ending diagonal, its fifth wave is likely in progress…

Palladium

On this frame of Palladium’s weekly-chart, it appears that an ending diagonal as the wave (C) of B of primary degree has been going on…

See this frame of monthly-chart for more perspective.