Palladium - a precious metal in demandPalladium - CashCMCMARKETS:PALLADIUMUmlingoPalladium is a precious metal in demand. Applications - - Automotive sector for Catalytic converters and EV adoption. - Geopolitical supply side pressure ( Russia ) and Recycling delays. - Industrial use electronics, chemical catalysts, hydrogen storage , fuel cells. - Healthcare - Dental Alloy, Implantable medical devices - Aerospace - Jewlery - Water Treatment - Optics and Photography Palladium has been on an absolute tear. Price has moved from October 3rd at 1211 , in which the 200 MAV channel was tested. To a recent swing high of 1532. Everything has to breathe out, and price is now retracing. Areas of interest for a potential reversal include 1. Confluence of Trendline and Fibonacci 50% retracement = around $1375 2. Confluence of the Demand Zone and Fibonacci 61.8% retracement = around $ 1335. These offer good areas to consider a long position. The sentiment for all precious metals is bullish. Your long position could be a swing trade or better still a position trade. Gold and Silver are at ATH. Platinum is close. Palladium can easily double from here.