PALL's bullish trend continues
As we can see in the orange box, throughout May PALL, the ETFS Physical Palladium Shares – moved horizontally. As a result of this trendless regime, volatility dropped, as we can see from the width of the Bollinger Bands.
The market conditions changed in early June when price broke above the upper side of the orange box and followed a strong bullish trend on the upper Bollinger Band.
Although momentum seems to have weakened in the last four sessions, MACD keeps moving up and above its signal line.
Just as important, PALL’s Relative Strength is also moving up and diverging from its 20-day exponential moving average, which is also going up.