Palladium is already holding a top and now at risk to a break of its 200-week average at $1,846/06. XPD/USD could fall as low as $1,495, according to strategists at Credit Suisse.
“Palladium already holds a top from the summer and the recent consolidation is seen as a temporary pause prior to a fresh leg lower.”
“Key remains the recent low, 200-week average and potential long-term uptrend at $1,846/06.”
“Below $1,846/06 should confirm a resumption of the downtrend for the year, with support seen next at $1,735 ahead of $1,670/65 and eventually $1,495.”
See – Palladium Price Analysis: XPD/USD looks vulnerable, support at $1,850 is exposed – Commerzbank
© 2000-2021. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at email@example.com.