For another vantage point, consider that palladium’s price has gone up 18 of the previous 30 trading days.
Palladium outperformed all 5 assets in the metals asset class since the previous day.
Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Out of the 5 instruments in the metals asset class, palladium ended up ranking 3rd for the day in terms of price change relative to yesterday.
Or to view things another way, note that out of the past 30 days palladium’s price has gone up 15 them.
On a relative basis, palladium was the worst performer out of all 5 of the assets in the metals asset class today.
Relative to other instruments in the metals asset class, palladium ranked 4th since yesterday in terms of percentage price change.
News on palladium that the major pgm producers in south africa were halting operations during the lockdown starting on march 26, to reduce the spread of covid-19, led the market to rebound rapidly….
In this article, we recap the latest palladium news in spring 2020 and what the palladium price trend suggests for the market going forward….
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.