Palladium Closed Yesterday Down -0.4%

The Hourly View for Palladium

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  • This is a reversal of the price action on the previous hour, in which price moved down.
  • From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning above them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Palladium’s hourly price chart is shown below.


The Daily View for Palladium

  • At the time of this writing, XPDUSD’s price is down $-11.29 (-0.4%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Palladium. Given that we see an uptrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Palladium.


Featured Palladium Idea From TradingView

Below is a trading comment entitled XAUUSD and Commodities you may find interesting:

Silver troy ounce (31.10 gram) 28.0375 USD (percentage of 0.49, Strong Buy signaling) and Platinum , 1176.4 USD (1.03 of pct, Buy). Ounce palladium 2841 USD (%-0.04) costs for traders.Copper 1 pound (0.4535 kg), 4.523 USD (with the percentage of -0.13, Buy) is being traded at the time written. Besides this, XAUUSD, spot gold (oz), 1902.4 USD (%0.55, Strong Buy) is going along its trendline.