I like to look at commods on a long-term basis and if you look at a monthly chart of palladium, you'll see that we are very close to breaking out of a three year channel since the collapse from the late 1990's. There is a pretty clear channel/triangle from late 2002 until today. I calculate the upper-end of this channel line to be 330 today. Looks like palladium may be breaking through this. If it does and holds it through month-end, I think we could be looking at a major bull market in palladium.
There will be fits and starts, as there have been in recent years, but the technicals are setting up for a major advance and I'm buying the dips.