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Palladium

Palladium - a small short before the move higherPalladium has just provided three reasons why I will look for a retracement before looking for the long. 1. Market has reached a trend line connecting tops - 9 month span 2. Market has hit the 1.272 from high 18th Nov (double top) - low 31th Dec - the 1.272 is the pink line. Note: We need to take in to account the larger swing from Dec15 - present. 3. Market has hit the 618 of the last big swing from high May 21 - 31 Jan - the black line is the 618 From here we look for a pullback to the 382 that happens to be a strong support zone - light blue line After the pull back we go LONG with an ABCD pattern and the top of our range box to reach our target.
OANDA:XPDUSDLong
by enzenator
2
PALLADIUM- Updated chart (Price at resistance)XPD/USD bears aim for 50-DMA during four-day downtrend NEWS | 1/3/2022 5:34:27 AM GMT | By Anil Panchal Share on Twitter Share on Facebook Share on Linkedin Palladium stays pressured around intraday low, keeps pullback from five-month-old resistance line. 50-DMA, 23.6% Fibonacci retracement level limits immediate downside. 11-week-old horizontal line adds to the upside filters. RSI retreat, failures to cross immediate hurdle signal for the downside. Palladium (XPD/USD) fades bounce off intraday low, down 0.12% on a day around $1,919 during early Monday. The precious metal rose to the highest since November 22 before stepping back from a five-month-long descending resistance line during the last week. The pullback moves do gain support from the RSI retreat, which in turn directs the sellers towards a convergence of 50-DMA and 23.6% Fibonacci retracement of May-December south-run, near $1,885. It’s worth noting that September’s low surrounding $1,849 may offer an intermediate halt during the quote’s downside past $1,885 before the bears can aim for the $1,800 threshold. Meanwhile, recovery moves need to cross the stated resistance line, around $1,965 at the latest, to recall the buyers. Even so, the $2,000 psychological magnet and tops marked during October-November, near $2,180, will be tough resistances to cross for the XPD/USD bulls before retaking the controls. Our chart worked really well again. Take a look: One Love, the FXPROFESSOR
TVC:PALLADIUMShort
by FX_Professor
Palladium Is Longing for RecoveryPalladium futures are falling for the eighth consecutive month from their peaks at $3019 per ounce in April-May this year. And there are a number of reasons for such a decline as palladium is used as an industrial metal for the production of car components that are used in high-ecological standard engines. However, the car production industry is suffering due to lagging demand and supply chain disruptions.  The other reason is persisting expectations about the faster tapering of the bond purchasing programs and interest rates hike by the Federal Reserve (Fed). The Omicron variant could also be considered as a bit of a worry amid fears of possible lockdowns and further drops in demand. Due to all these reasons, palladium plunged 44% from its May peak and continued on its downward spiral until mid-December, where its futures are traded around $1670 per ounce.  But nothing is over for palladium at the moment. If you look at the weekly or monthly chart of its price, you may find a “rising wedge” pattern that continues implementing itself and point to the $1360-1380 per ounce zone. So, we may consider buying operations only once the price will be near that level. Moreover, the minimums of March 2020 also point to this zone. Prices have been declining for a long time up until now and the asset is longing for an upside correction. The prices of futures may return to $2200 per ounce alongside the correction. However, any long-term bets would be certainly premature as the future green development of the global economy and car industry, in particular, is clouded. For a more accurate analysis, the pace of hybrid and electric vehicle construction should be considered. According to Citigroup palladium prices may rise significantly along with the recovery in demand. The shortage of palladium is inevitable as the car industry recovers. But this forecast is likely to be moved further in time closer to 2023.
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by scavoanastasiia
Fibonacci and clouds - the dream duoOne of my jobs as a technical analyst was to provide trading ideas. Sometimes this was intraday and sometimes these were longer term strategic positions. When it comes to intraday entry points I like to use a couple of indicators at least to give me a potential entry point and for me, my dream duo is the Fibonacci retracement and the ichimoku cloud combo. I particularly like to use this on the one hour and 4 hourly chart. The above 4 hourly chart on palladium is showing that the corrective move higher is about to run into the top of the cloud and the 38.2% retracement of the recent sell off at 1892. The combination of the two should act as decent resistance and we will be looking for signs of failure here. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
OANDA:XPDUSDShort
by The_STA
Long term palladium buy opportunity We can potentially see an additional 10% drop but we’ll be buying at every bit of the dip. I believe this is a 1 in 5 year buying opportunity for palladium. Currently the recent Covid variant news is putting downwards pressure on this precious metal as its main driver of demand is through vehicle manufacturing but the suppression of price won’t happen for too much longer. Long term strategy play, a potential to test prior all time high within the next year. Let’s wait and see…enjoy the ride. ✌️
OANDA:XPDUSDLong
by AlphaTurtle
1
Palladium Update. it acted exactly according to the analysisAs I mentioned in our previous analysis, we considered the price correction to the specified levels to be possible, which happened now that we are trading at the end of the week. . And we predict growth up to specified prices. Also, the well-formed M model has been completed and we will be deciding to start a bullish price rally in the coming days .Otherwise the current level breaks and further correction to specified levels is less likely ....
CAPITALCOM:PALLADIUMLong
by arsalancrypto85
Gold Builds Early Bullish Momentum!Gold has been resting well, and the rest may have given new life to the bullish momentum as we are starting to see some progress this month. An all-time high formed in August 2020 at $2075, and from there, we saw a decline down through the $2000 psychological area of support/resistance and below the 50 simple moving average. Price formed an area of consolidation and formed a base just below $1700 in March 2021. Price hit this level again in August 2021, and this bounce from support has given price some much-needed momentum. We have the $2000 round number above price, which may act as resistance. If price makes it above this hurdle, then we have the all-time high resistance at $2075, which may also act as an obstacle. As price has formed a base in the consolidation zone, a breakout of the the high or low will give us an indication of where price may go next. The prior trend was bullish, so we are anticipating a bullish breakout. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
Gold Tests Key Value AreaGold has broken through 1795, and is currently in the value area between 1795 and 1815. We are seeing several red triangles on the KRI suggesting we are facing some resistance, so if we cannot solidify current levels, than expect a retracement back to the 1780's. we will have further support at 1789 then 1784. Recall that gold tested 1759 just two days ago, but we should find support at levels above this. The Kovach OBV is still pretty weak so a retracement from current levels is likely unless we can muster the momentum to break higher.
COMEX:GC1!
by quantguy
2