Julius Bär Gruppe AG with bullish forecast for Palladium.

According anlise on Julius Bär Gruppe AG fundamental analysis is positive, although it still fails to support the price. Pd oscillates around 12 annual minimums. Demand for SUVs in the US rose sharply pulling vehicle sales in the country up already 6.5% compared to 2014. There are also signs of decline in production of the Palladium, which together with the growth in the production of catalysts provides a good outlook for the metal.

Act against price worries about negative state of the Chinese economy and the continuing impulse closing long positions. Similarly behavior and market Platinum, depending on the market of diesel cars. So far, Pt also ignores the positive long-term fundamentals.

This week we expect the data to the automotive market in Europe and China. The most important is whether it will confirm concerns about the major collapse of the Chinese economy, which can cause a sharp drop in car production worldwide.

Despite the current trend, Julius Bär CA convinced that the market for Pd and Pt is not saturated enough and provide medium-term and long-term upward trend. Despite the decline below the psychological level of $ 600 these days, the technical picture suggests only a short-term consolidation. Short term selling will continue to influence the price, but beyond these temporary impulsive movements, forecast of  Warren Kreyzig analyst in Julius Baer's is upcoming powerful rise for both metals, and especially in Pd.