Palladium Does it Again: Heads Up for the 2nd Straight Day

The Hourly View for Palladium

  • Currently, XPDUSD’s price is up $0.38 (0.01%) from the hour prior.
  • This is the 2nd hour in a row Palladium has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Palladium. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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.

XPDUSD

The Daily View for Palladium

  • Currently, XPDUSD’s price is up $27.46 (1.05%) from the day prior.
  • This is the 2nd day in a row Palladium has seen its price head up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • The moving averages on the daily 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.

Below is a daily price chart of Palladium.

XPDUSD

Featured Palladium Idea From TradingView

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