Palladium May Extend Gains to Test 2011 Peak: Technical Analysis
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Palladium is set to extend gains to test the 2011 peak after breaching its 21-day moving average, according to Kaname Gokon at commodity broker Okato Shoji Co.
“The 2011 high of $862.25 may be challenged this year after breaking above the short-term moving average of $747.80 an ounce on March 7,” Gokon, deputy general manager of research, said today. The metal touched $786 on March 8, the highest level since September 2011.