Precious metals keep falling. We pointed out in October that the outlook for the precious basket of metals was bearish and that palladium was the only one holding its value. Today, the picture looks even more bearish.
Although last year we were bullish on Palladium, the picture is starting to look like a downward trend. The precious metal is now breaking a key support level after hitting deeper lows. This indicates that selling pressure is increasing as the metal declines, and its lower high points are a sign that there is diminishing buying pressure during those upward bounces.