Bull trend in place in Minor fifth wave :
On this frame of Palladium’s weekly chart, the wave counts explain the overall rally in overlapping waves as an Intermediate ending diagonal which is in the late stages.
The recent rise from the 723 low of Minor wave 4, as an initial move, would indicate that price will continue to climb higher in final rally of Minor wave 5 in the coming months. The wave 5 should carry above the 913 high on September 2014, to completed the Intermediate wave (C) in an ending diagonal.
Based upon this concept, the outlook remains bullish, as long as the 723 fourth wave’s low on March 30 holds.