Palladium (Globex)
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Daily Commodity Futures Price Chart: Sept. 2017

Palladium (Globex) (NYMEX)

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Contract Specifications:PA_,NYMEX
Trading Unit: 100 troy ounces
Tick Size: $0.05 (5 cents) per troy ounce ($5 per contract)
Quoted Units: US $ per troy ounce
Initial Margin: $3,713   Maint Margin: $2,750
Contract Months: Trading is conducted over 15 months beginning with the current month and the next two consecutive months before moving into the quarterly cycle of March, June, September, and December.
First Notice Day: First business day of contract month.
Last Trading Day: Close of business on the fourth business day prior to the end of the delivery month.
Trading Hours: Electronic trading: 6:00 PM until 5:15 PM on CME Globex Platform.
New York time.
Daily Limit: none

Analysis

Fri 7/21/17

Bollinger Bands Indicator:

Conventional Interpretation: The Bollinger Bands are indicating an oversold condition. An oversold reading occurs when the close is nearer to the bottom band than the top band.

Additional Analysis: Volatility appears to be declining, as evidenced by a decreasing distance between the upper and lower bands over the last few bars. The market appears oversold, but may continue to become more oversold before reversing. Look for some price strength before taking any bullish positions based on this indicator.

Mov Avg 3 lines Indicator:

Note: In evaluating the short term, plot1 represents the fast moving average, and plot2 is the slow moving average. For the longer term analysis, plot2 is the fast moving average and plot3 is the slow moving average

Conventional Interpretation - Short Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Short Term: Even though based on conventional interpretation the market is technically bearish, we will not classify it as extremely bearish until the following occurs: the slow moving average slope is down from previous bar.

Conventional Interpretation - Long Term: The market is bullish because the fast moving average is above the slow moving average.

Additional Analysis - Long Term: Even though based on conventional interpretation the market is technically bullish, we will not classify it as extremely bullish until the following occurs: the slow moving average slope is up from previous bar, price goes above the fast moving average, price goes above the slow moving average.

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is below the moving average so the trend is down.

Additional Analysis: Market trend is DOWN.

Stochastic - Fast Indicator:

Conventional Interpretation: The stochastic is bearish because the SlowK line is below the SlowD line.

Additional Analysis: The long term trend is UP. The short term trend is down. The short term trend looks a little toppy. A possible short term down move may occur.

Stochastic - Slow Indicator:

Conventional Interpretation: The stochastic is bearish because the SlowK line is below the SlowD line.

Additional Analysis: The long term trend is UP. The short term trend looks a little toppy. A possible short term down move may occur.

Swing Index Indicator:

Conventional Interpretation: The swing index is most often used to identify bars where the market is likely to change direction. A signal is generated when the swing index crosses zero. No signal has been generated here.

Additional Analysis: No additional interpretation.

Volatility Indicator: Volatility is in a downtrend based on a 9 bar moving average.

Volume Indicator:

Conventional Interpretation: No indications for volume.

Additional Analysis: The long term market trend, based on a 45 bar moving average, is UP. The short term market trend, based on a 5 bar moving average, is DOWN. Volume is trending higher, allowing for a pick up in volatility.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 48.32). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.

Additional Analysis: RSI is somewhat oversold (RSI is at 48.32). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence here before getting too bullish here.

ADX Indicator:

Conventional Interpretation: ADX measures the strength of the prevailing trend. A rising ADX indicates a strong underlying trend while a falling ADX suggests a weakening trend which is subject to reversal. Currently the ADX is falling.

Additional Analysis: The long term trend, based on a 45 bar moving average, is up. However, a falling ADX indicates that the current trend is weakening and may possibly reverse. Look for a choppy market ahead.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (-27.44) is in neutral territory. A signal is generated only when the CCI crosses above or below the neutral center region.

Additional Analysis: CCI often misses the early part of a new move because of the large amount of time spent out of the market in the neutral region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. Given this interpretation,CCI (-27.44) is bearish, but has begun showing some strength. Begin looking for an attractive point to cover short positions and return to the sidelines.

DMI Indicator:

Conventional Interpretation: DMI+ is less than DMI-, indicating a downward trending market. A signal is generated when DMI+ crosses DMI-.

Additional Analysis: DMI is in bearish territory.

MACD Indicator:

Conventional Interpretation: MACD is in bearish territory, but has not issued a signal here. MACD generates a signal when the FastMA crosses above or below the SlowMA.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. MACD is in bearish territory.

Momentum Indicator:

Conventional Interpretation: Momentum (13.10) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. Momentum is in bullish territory.upside move is likely.

Open Interest Indicator: Open Interest is in a downtrend based on a 9 bar moving average. While this is normal following delivery of nearer term contracts, be cautious. Decreasing open interest indicates lower liquidity.

Rate of change Indicator:

Conventional Interpretation: Rate of Change (1.58) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. Rate of Change is in bullish territory.

Important: This commentary is designed solely as a training tool for the understanding of technical analysis of the financial markets. It is not designed to provide any investment or other professional advice.

Lt Crude 45.60
Nat Gas 2.960
Corn 393 4/8
Cotton #2 68.42
Gold 1255.0
Copper 2.7220
Euro 1.16980
USD Index 93.679
SP500 E-mini 2470.00
DJIA E-mini 21518
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