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Palladium

PALLADIUM Buy opportunity on the 1D MA50.Last time we looked into Palladium (XPDUSD) is was almost a year ago: This time the price has formed a Channel Up pattern after breaking above the dashed Lower Highs trend-line form the October 04 2022 High. The price is exactly on the 1D MA50 (blue trend-line) now, near the bottom of the Channel Up, which makes it a technical buy. Our target is the top of the Channel Up at 1685. A break below the 1420 Support, will be a sell signal instead, targeting the 2.0 Fibonacci extension at 1200. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPDUSDLong
by TradingShot
3
Is Palladium to extend its losses?Palladium - 24h expiry There is no indication that the selloff is coming to an end. We look for losses to be extended today. Short-term oscillators have turned negative. Expect trading to remain mixed and volatile. The primary trend remains bearish. We look to Sell a break of 1501.8 (stop at 1525.8) Our profit targets will be 1441.8 and 1431.8 Resistance: 1513.5 / 1525 / 1540 Support: 1502.5 / 1480 / 1460 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XPDUSDShort
by OANDA
Palladium Will the precious metal rebound in 2023?Palladium prices have spiked following the invasion of Ukraine by Russia, the metal’s biggest exporter, yet stabilised further in 2022 as chip shortages and the push for electric vehicles (EVs) depressed automotive demand. On the supply side, with floods and weather conditions overcome, analysts suggest a palladium surplus in 2023 is possible. Where next for the precious metal and can it find new use cases amid the growing popularity of EV vehicles? Here we take a look at what factors are shaping the palladium price forecast. What is palladium? Palladium is a silvery-white precious metal discovered in Brazil in the 1700s, where it was dubbed “worthless gold”. It was not until 1803 that the metal was finally extracted by English chemist and physicist William Wolaston. Today palladium can be found in sulphide minerals, such as braggite, and is extracted as a by-product of nickel, copper and zinc. Along with platinum, ruthenium, rhodium, iridium and osmium, palladium is one of the six metals of the platinum group (PGMs). These metals are extremely rare and are valued for their superior catalytic features. The majority of palladium supply is used for catalytic converters – devices embedded in the exhaust system of fossil fuel-powered cars to neutralise harmful emissions. The rapidly growing popularity of EVs is expected to hurt palladium demand as they do not require catalysts. The silvery-white metal is also used in electronics, for example, in ceramic capacitors of laptops and phones; in dentistry, for fillings and crowns; and in jewellery as an alternative to platinum. South Africa, Russia, Canada, the US and Zimbabwe were the biggest palladium producers in 2021, according to data collected by Statista. Meanwhile, the biggest palladium-exporting countries were Russia, South Africa, the US, the UK and Italy. The biggest importers were the UK, the US, Canada, Hong Kong and Switzerland, WITS data showed. Due to its rarity, palladium is often seen as an investment asset. Traders can speculate on palladium prices through various instruments, including spot palladium trading, futures and options contracts, palladium mining stocks and exchange-traded funds (ETFs), and financial derivatives. Note that all trading contains the risk of making a loss. Palladium price analysis As with any commodity, palladium price is primarily shaped by the forces of supply and demand. The palladium spot price rallied in 2020 amid supply deficits caused by pandemic-induced restrictions in exporting countries. An outage at an Anglo American (AALI) plant in South Africa in 2020 further tightened supply. And in February 2021, flooding at a mine and an accident at a concentrator reduced production at Russia’s Nornickel (Norilsk Nickel) (MNODI), the world’s largest palladium producing company. Palladium futures on New York Mercantile Exchange (NYMEX) reached their 2021 peak of HKEX:2 ,976 per troy ounce (/oz) in May 2021. In the second half of 2021, however, the global semiconductor chip shortage caused automotive manufacturers worldwide to cut production. This had a knock-on effect on palladium demand, with the futures prices falling to $1604/oz in December 2021. Although the invasion of Ukraine by Russia pushed palladium prices to an all-time high of HKEX:3 ,146/oz in March 2022, prices quickly stabilised, offset by the US dollar’s strength and an ongoing decline in automotive demand. In the last months of 2022, palladium futures have been hovering around the HKEX:1 ,900/oz mark. Supply to “shift into surplus” in 2023 In August 2022, Russia-based palladium giant Nornickel said that supply chain disruptions caused by the Western sanctions have reduced its sales for the first half of 2022. In its second-half report, the company pointed out that supply was expected to grow in 2022, however, “the downside risk remains due to the infrastructure flooding at the Stillwater mine and a potential strike at the Sibanye-Stillwater assets in South Africa”. Johannesburg-based precious metal producer Sibanye-Stillwater’s mine operations in Montana were hurt by a significant flooding event in June 2022. It forced the firm to cut its output forecast to 445,000-460,000 ounces in 2022, according to the latest half-year report. In its precious market forecast for 2023, Heraeus Group argued that “primary palladium supply is projected to rebound as mines affected by weather-related incidents this year will be back to normal output and the stock built up by a delayed smelter rebuild in South Africa should be processed in 2023.” “Secondary supply is expected to be marginally higher, but if economic conditions deteriorate further, automotive recycling could disappoint,” they added. In a September 2022 note, Bank of America (BofA) expected palladium to “slowly shift into surplus”, with global consumption projected to rise 4.5% in 2023 and global consumption to fall by 5.8%, leaving the metal with a balance of 1.809m ounces. The surplus was expected to grow to 2,339 ounces in 2024. “Palladium will likely be oversupplied in the medium term,” the bank said. Automotive demand remains low In other palladium price news, Nornickel also said that “global automotive market recovery is deferred to 2023” amid a “lack of semiconductors and supply chain interruptions impact vehicle output”. The firm saw automotive production recover in 2023, growing 11% to 89m units alongside improving chip availability. In their December palladium price outlook, ANZ research analysts pointed out that “easing semiconductor supply tightness could revive auto-sector demand for PGMs”. They added: “That said, doubts around the economic outlook could cap the upside. Russia supplies over 35% of global palladium, and disruptions have been limited so far.” The growing popularity of EVs and the push for sustainable energy along with macroeconomic headwinds pose risks to palladium demand from the automotive sector, according to Heraeus Group analysts, who noted: “Automotive demand is estimated to be slightly lower at 7.7 million ounces in 2023. Light-vehicle production is expected to improve somewhat as supply chain issues that have dogged production are overcome. However, ongoing market share gains by battery electric vehicles and a recession in Europe and the US could limit the uplift in internal combustion engine light-vehicle production, and substitution of platinum into gasoline three-way catalysts at the expense of some palladium also constrains the demand upside.” Palladium price forecast for 2023 and beyond In their palladium price forecast for 2023, ANZ Research saw the metal trading at HKEX:2 ,048/oz in the year, falling back to HKEX:1 ,805/oz in 2024. “We see platinum outperforming palladium as demand for the precious metal is boosted from both jewellery and industrial sectors. Further, normalising of the supply chain should see growth in auto catalyst demand,” said ANZ research analysts in a December note. In September 2022, Bank of America set a 2023 target for the future value of palladium at $1740/oz, noting that “chip shortages cap the upside to prices, but a normalisation of dislocations should ultimately boost demand.” BofA’s palladium price forecast for 2025 saw the precious metal trading at HKEX:1 ,564 and falling to HKEX:1 ,497/oz in 2026. Heraeus Group predicted palladium's future price to trade between HKEX:2 ,259/oz and HKEX:1 ,300/oz in 2023, “as the market is moving into surplus which weighs on the price.” The analysts said: “With a slight reduction in demand and an increase in primary supply, the market is likely to be in surplus even if secondary supply underperforms expectations.” TD Securities spot palladium price predictions saw the metal trading at HKEX:1 ,879/oz in the first quarter of 2023, rising to HKEX:2 ,100/oz by early 2024. In 2025, the firm saw the precious metal falling back to HKEX:1 ,950/oz. TradingEconomics, meanwhile, as of 15 December, expected palladium to trade at HKEX:2 ,032.00/oz by the end of this quarter. “Looking forward, we estimate it to trade at HKEX:2 ,300.09 in 12 months time,” the website added. Analysts refrained from providing palladium price forecasts for 2030 due to a number of uncertainties at play. Final thoughts Remember, analysts and algorithm-based predictions can be wrong. Palladium price forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before trading, looking at the latest news, technical and fundamental analysis, and a wide range of commentary. Keep in mind that past performance does not guarantee future returns, and never trade money you cannot afford to lose.
CAPITALCOM:PALLADIUMShort
by DaveBrascoFX
Palladium to breakdown?Palladium - 24h expiry - The primary trend remains bearish. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. Price action has posted a Doji candle and signals a possible reversal of the recent trend. The bias is to break to the downside. Our outlook is bearish. We look to Sell a break of 1572.9 (stop at 1596.9) Our profit targets will be 1512.9 and 1502.9 Resistance: 1590 / 1605 / 1625 Support: 1574 / 1555 / 1520 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XPDUSDShort
by OANDA
1
Will Palladium break the down channel?Palladium has been consolidating over a strong support line for a couple weeks. Now it is trying to break the down channel. If it breaks we may see a quick 10% move which Palladium loves to do. Next strong resistance area is around 1600. If we manage to clear that region as well, Palladium may return those old strong days again. The main challenges in front of Palladium are the recession fear and the pressure on the price of the commodities which Russia exports. But if Palladium wears the precious metal hat, then it can benefit from the current Bank crisis where Yellen aunt said she will not secure all the deposits. Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
EASYMARKETS:XPDUSDLong
by WhaleGambit
Palladium keeps finding support at the trend line.Palladium - 24h expiry - Offers ample risk/reward to buy at the market. We are trading at oversold extremes. Trend line support is located at 1420. Early pessimism is likely to lead to losses although extended attempts lower are expected to fail. We look for a temporary move lower. We look to Buy at 1421.2 (stop at 1397.1) Our profit targets will be 1481.1 and 1491.1 Resistance: 1475 / 1490 / 1500 Support: 1450 / 1435 / 1420 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XPDUSDLong
by OANDA
Precious Metals are going places! Hi Traders As we have been seeing very volatile markets in the past week, trading any direction currently is not easy. It is now, more important than ever, to stick to your strategy and do not let yourself be distracted from potential gains you are missing out on. The worst thing you can do to your portfolio is FOMO. Stay cool-headed and trade the obvious. Precious metals are of interest to investors and traders currently due to arising macroeconomic uncertainties that have been evolving over the course of the past 3 years. But also recent news have been filled with a lot of FUD regarding the banking sector in the US, bailouts in a high interest rate environment and many more things happening currently. Crypto but also precious metals have seen fantastic gains since the start of the week, thanks to investor running away from the legacy markets and trying to find more safety in the digital and physical safe havens. As Gold looks quite strong, I will be discussing a potential long trade idea below, please understand that gold is sitting on a strong resistance at 1920 USD that has historically been though to smash through, therefore sticking to the plan will be crucial for execution. Here is my Game Plan for XAUUSD: - Reclaim of 1910 entering range of between 1910 and 1930 - Hold above range for a significant amount of time - Price needs to be trending upwards - Smooth price action is a prerequisite for this trade - Consolidation right under upper half of the violet box - Entry upon break of box - T1 1947 USD - T2 1966 USD - Stop will be disclosed once trade has been entered Trading needs a plan, only a plan can give you orientation. Sticking to the plan means that you will have a reproducible procedure which can be assessed for mistakes and learnings. It is comparable to the scientific approach, the only difference is, a trader is not interested in facts, he is interested in gains. Please make sure to leave a like and a comment if you liked what you have been reading. Also follow me if you like my approach combining macroeconomic news, fundamentals and technical analysis. Have a good one legends Best CH
FOREXCOM:XAUUSDLong
by TraderCHgold
Palladium ready for some upside?Palladium - Intraday - We look to Buy at 1474.1 (stop at 1450.1) Short term bias has turned positive. Previous resistance at 1475 now becomes support. We are trading at oversold extremes. We look to buy dips. We look for gains to be extended today. Our profit targets will be 1534.1 and 1544.1 Resistance: 1515 / 1527 / 1540 Support: 1490 / 1475 / 1450 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYMEX:PA1!Long
by VantageMarkets
Inverse head & shoulders for PalladiumIf we break the neckline, price may test the weekly pivot point 1440. Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
EASYMARKETS:XPDUSDLong
by WhaleGambit
XPD selloff has no indication of coming to and end.Palladium - Intraday - We are trading at oversold extremes. Daily signals are bearish. There is no indication that the selloff is coming to an end. Previous support at 1405 now becomes resistance. We look for a temporary move higher. 50 4hour EMA is at 1408. We look to Sell at 1403.4 (stop at 1427.3) Our profit targets will be 1343.3 and 1333.3 Resistance: 1350 / 1365 / 1380 Support: 1340 / 1320 / 1300 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XPDUSDShort
by OANDA
A Sample of Gann applied to Palladium This is a sample of a properly squared asset using Gann Fans and Boxes. The technique is simple as Gann spoke. Price = Time. Once these are matched up an asset is what they call "scaled". Gann's theory spoke of how price/ trend changes were to be expected when price moved outside of the Gann Box. In this case we can see that they happen on a yearly cycle and iterations of that. Now this chart has an extended 3rd box, but the iteration is not known right now because price has not shown support. Gann also spoke of the importance of determining tops and bottoms as well as support and resistance. From my experience when the cycles are known the tops and mids of the boxes are clear points of resistance and support (blue lines). The yellow lines are just the Gann Boxes with Fibonacci points of interest. You can set the Gann Box however you like in TV settings. You can zoom in to see how this system works with the price. Each line of the Gann fan have a personality when it comes to price action. Esp the yellow 1/3 line. TV has these lines backwards, but if your familiar with Gann you know the power of this line (yellow). Once a chart is properly scaled you can lock the scale and change the timeframes for added detail as seen here. SO if there is any drift seen it is because the scale was lowered here vs using the actual scaled days. A powerful tool when trading and done properly b/c u get to see the details while keeping all the data on screen. Most ppl do not properly scale their charts and that can have unreliable results. Just sharing, I work most of my charts like this and add other techniques to make trading decisions. Enjoy. Note u can zoom in and out using the price scale to the right.
TVC:PALLADIUMEducation
by Moorsc0de
1
Palladium daily EMA keeps on attracting sellers.We are trading at oversold extremes. 20 1-day EMA is at 1494. Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher. We look for a temporary move higher. Preferred trade is to sell into rallies. Palladium - Intraday - We look to Sell at 1496.9 (stop at 1520.9) Our profit targets will be 1436.9 and 1430.9 Resistance: 1445 / 1459 / 1480 Support: 1420 / 1405 / 1385 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XPDUSDShort
by OANDA
Palladium at 60-week low.Palladium - Intraday - We look to Sell at 1588.5 (stop at 1611.9) Trades at the lowest level in 60 weeks. We are trading at oversold extremes. There is no clear indication that the downward move is coming to an end. Previous support at 1590 now becomes resistance. We look for a temporary move higher. Our profit targets will be 1530.1 and 1525.1 Resistance: 1531 / 1545 / 1560 Support: 1517 / 1500 / 1480 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XPDUSDShort
by OANDA