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METALS: Palladium chart continues to defy gravity - the metal has had ONE down
day in the past NINETEEN sessions and is up around 25% in 2020 alone. On my
charts the RSI is now closing in on 100 and sits at levels not seen since the
early 2008 rally. The move has clearly caught a few analysts offside, with
today's rally pushing the price above UBS' 2021 price target of $2,300.
Catalytic converter demand still seen driving the price, with supply constraints
and poor recycling outlook also contributing.
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