Commodity Trading Advisors (CTAs) are back on the platinum group metals (PGMs) offer as the recovery in prices catalyzes buying programs in both platinum and palladium, suggests Daniel Ghali, Senior Commodity Strategist at TD Securities.
Palladium’s chances of a rise increase
“Is the short squeeze over in Palladium? The term short squeeze is when the price experiences an upward action, accompanied by a spike in buying volume. Our advanced positioning analysis suggests that CTAs are back in the bidding for PGMs, as the recovery in prices catalyzes buying programs in both Platinum and Palladium, increasing the likelihood of a further rise in Palladium prices.”
“Our 500-scenario simulations for future prices over the next week suggest that CTAs could cover their entire short position in palladium on a rally. The positive move in systematic palladium shorts could still have room to continue.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
