Palladium Just Breached This Major Moving Average Level

The Hourly View for Palladium

  • Currently, XPDUSD’s price is up $1.11 (0.04%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 and 10 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Palladium’s hourly price chart is shown below.


The Daily View for Palladium

  • At the moment, XPDUSD’s price is down $-26.72 (-0.94%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Palladium has now gone down 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them with price now being below it. 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 Commodity Overlook you may find interesting:

Silver troy ounce (31.10 gram) 27.975 USD (percentage of 0.9, Strong Buy signaling) and Platinum , 1151.1 USD (-0.98 of pct, Buy). Ounce palladium 2781 USD (%-0.93) costs for traders.Copper 1 pound (0.4535 kg), 4.526 USD (with the percentage of -0.66, Neutral) is being traded at the time written. Besides this, XAUUSD, spot gold (oz), 1893.9 USD (%-0.03, Buy) is going along its trendline.American Dollar…