Palladium Enters Today Down -0.32%

The Hourly View for Palladium

  • Currently, XPDUSD’s price is down $-3.03 (-0.11%) from the hour prior.
  • Palladium has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being below it. The moving averages on the hourly 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.

Palladium’s hourly price chart is shown below.

XPDUSD

The Daily View for Palladium

  • At the time of this writing, XPDUSD’s price is down $-8.61 (-0.32%) 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 50 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

Below is a trading comment entitled Palladium: further upside potential? you may find interesting:

The 200-day recently acted as major support and the price action remains above this key level.Upside price momentum supports the bullish trend.Above 2650 supports a bullish bias.RSI leaves enough room for further upside price potential.Pre-empting trade – adjust risk accordingly.Profit target: 2900Stop-loss: 2600

Peet_Serfontein