Do we have the opportunity to buy Palladium and Platinum right now, since the price dropped over 22% from all time high?
Prices are very attractive if we look on the charts below, but Fundamental Analysis tells another story.
- Palladium is used primarily as an emissions purifier for gasoline engines cars
- Platinum is used in the same way for diesel cars
- Auto sector is continuing facing challenges due to micro-chip shortage
- Electric cars & hybrid technology are on the wave
We personally, don not like to take trades without a fundamental catalyst or in opposition to Fundamental Outlook. From a technical point of view, we have interest in this trade but just for a very short time (a few days trade duration).
It's wise to wait a recovery in car sales and, after that, just take this trade.
What is your opinion regarding rebounding in Platinum or Palladium, or it is only a fake move?!
