Technical Signs Suggest XPDUSD’s Downtrend May Be Stalling

The Daily View for Palladium

  • At the time of this writing, XPDUSD’s price is down $-12.07 (-0.61%) from the day prior.
  • This is the 3rd day in a row Palladium has seen its price head down.
  • Regarding the trend, note that the strongest trend exists on the 20 day 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 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 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.
  • Divergence alert: Trend in XPDUSD’s price and its RSI are diverging. XPDUSD’s price is declining slower than its RSI.

Below is a daily price chart of Palladium.

XPDUSD

Featured Palladium Idea From TradingView

Below is a trading comment entitled BULLISH ! you may find interesting:

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