I was reviewing the precious metals longer term charts last weekend to see whether I could identify a top coming after this amazing move up on silver. I have nothing usable on silver as it is in uncharted territory on my ten year chart, but the gold and palladium charts both look as though they have more upside coming, with palladium being the more interesting of the two.
On the monthly chart the obvious target for palladium is in the 900 – 950 area, depending when it is reached as the resistance trendline is rising. There’s some significant resistance in the 857-9 area near the last high as there have been two previous monthly peaks in the same area:
