Palladium Analysis: Is price starting a swing higher? Today's focus: Palladium
Pattern – Descending triangle / Range
Support – 1223
Resistance – 1320
• Palladium added 4.37% on Thursday
• Palladium and Platinum ignored USD strength to finish firm on Thursday.
Hi, and thanks for checking out today’s analysis. We’re looking at Palladium primarily in today’s video, but we have also mentioned Platnuim, as it also posted a solid session on Thursday.
After yesterday’s rally, we have looked at a few things that have stood out in the buyer's favour, but we have also broken down the remaining hurdles and what we want to see from price to confirm the bullish signs.
Do you trade Palladium? If so, please let us know what you think of the descending triangle pattern and if you agree with current volume supporting yesterday’s move.
Have a great day and good trading.
PALLADIUM trade ideas
Palladium continues to hold back the bears.Palladium - 24h expiry
Support is located at 1220 and should stem dips to this area.
We are trading at oversold extremes.
We look to buy dips.
1220 continues to hold back the bears.
Expect trading to remain mixed and volatile.
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We look to Buy at 1222.6 (stop at 1206.6)
Our profit targets will be 1262.6 and 1272.6
Resistance: 1269 / 1280 / 1300
Support: 1250 / 1240 / 1220
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.
Palladium setups2 Palladium set ups.
-Wait until trendline break out.Target WPOC
-Wait for .886 .Target WPOC
Trend is still bearish
XPDUSD Sell signal below the 1D MA50.Palladium (XPDUSD) has been trading inside a Channel Down for almost a year. The price ic currently near the top (Lower Highs trend-line) of the Channel Down, just below the 1D MA50 (blue trend-line), which is intact since May 23.
The 1D RSI action shows that we are potentially in a similar spot as December 27 2022, when a deep Lower Low sequence started. As long as the price stays below the 1D MA50, we will stay bearish and target the middle of the Channel Down at 1050.
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Bullish on Palladium I think this is a good entry point for this incredible metal...
Interesting use cases ..
*Dentistry
*Catalytic converters
*Electrical components... Good conducter.
*Fuel Cell technology 👀
Palladium's mild rally to find a ceiling soon?Palladium - 24h expiry
Broken out of the channel formation to the upside.
We look for a temporary move higher.
The primary trend remains bearish.
50 1day EMA is at 1340.
Preferred trade is to sell into rallies.
We look to Sell at 1339.8 (stop at 1363.8)
Our profit targets will be 1279.8 and 1269.8
Resistance: 1322 / 1340 / 1360
Support: 1302 / 1290 / 1275
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.
XPDUSD: Inverted Hammer after setting Higher LowXPDUSD formed an inverted hammer candle after setting an Higher Low which indicates the continuation of the uptrend. Going long with stop loss at last HL.
Palladium at oversold extremes in a bearish channel.Palladium - 24h expiry
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
The current move lower is expected to continue.
Trading within a Bearish Channel formation.
Trend line resistance is located at 1248.
The sequence for trading is lower lows and highs.
We look to Sell at 1249.4 (stop at 1273.4)
Our profit targets will be 1189.4 and 1179.4
Resistance: 1250 / 1257 / 1270
Support: 1227 / 1215 / 1202
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.
XPD remains in a sequence of lower highs and lows.Palladium - 24h expiry
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Previous support level of 1262 broken.
We are trading at oversold extremes.
We look for a temporary move higher.
50 4hour EMA is at 1290.
We look to Sell at 1304.8 (stop at 1328.8)
Our profit targets will be 1244.8 and 1234.8
Resistance: 1257.7 / 1275 / 1300
Support: 1245 / 1225 / 1202
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.
PALLADIUM , LONG , COT Strat research , idea 2I am working at at the very begginings of a strat where I would like to use COT data and price action to take futures/forex trades , right now this is idea 2.
The logic is we have non commercials , reportables and non reportables , both short , reportables being extremely short vs average deviation ( just looking at it visually at this point )
So , not a long yet but , this would probably be something to focus on after the chart ok's the entry , my goal here is to observe and assess , right now this looks like exactly the prerequisites that I want to have
A contrarian perspective and for the price to confirm with a change of structure when most people are short , I imagine the ideal trades will be non-commercials net positioning opposite of what we are doing and notably in excess of average deviation norms.
This is to start the very initial research of what could become a strategy, I want to find 8 more ideas like this , I have learned that strategy development takes lots of time , so I expect the initial research to take between 6 months and 1 year before anything live happens .. and then if it does work out I will start small . Perhaps using etf's vs futures contracts to do so with applicable stuff is one idea ....
Palladium in inverted head and shoulders?Palladium - 24h expiry
A bullish reverse Head and Shoulders has formed.
Bespoke support is located at 1355.
We look to buy dips.
With signals for sentiment at oversold extremes, the dip could not be extended.
Offers ample risk/reward to buy at the market.
We look to Buy at 1350.1 (stop at 1326.1)
Our profit targets will be 1410.1 and 1420.1
Resistance: 1370 / 1380 / 1400
Support: 1348 / 1335 / 1315
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.
Will Palladium Slide Down To $1000?Palladium, which hit an all-time high of $3433 in March 2022, has since experienced a major downturn, plunging below the $3000 support level and losing 34% of its peak value by the end of that month.
The downward trend persisted throughout 2022, breaching the critical $2000 level in October.
A significant bearish move in February 2023 further pushed the price below the $1543 support level from December 2021, turning it into a formidable resistance level.
This has led to a further drop to a four-year low of $1305.
Now, with a total decline of over 58% from its all-time high, palladium may continue to fall towards the $1000 mark unless buying sentiment changes.
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Palladium primary trend remains bearish.Palladium - Intraday
The primary trend remains bearish.
Preferred trade is to sell into rallies.
20 1day EMA is at 1397.
Trading has been mixed and volatile.
Daily signals for sentiment are at oversold extremes.
We look to Sell at 1397.8 (stop at 1421.8)
Our profit targets will be 1337.8 and 1327.8
Resistance: 1400 / 1415 / 1430
Support: 1380 / 1360 / 1340
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.
Palladium Going UP BUYSo according to the last analysis, I can easily say that it will go up and the price will rapidly increase. Its an expert guarantee.
XPDUSD - Palladium Surplus?Analysis:
When we take a look at the technicals we can see that price is in a downwards trend. We're seeing lows get broken showing us the bearish momentum. Price has recently broken below a key level of previous support which we now expect will hold as resistance. We don't really have any other added confluences to this setup like a trendline or fib retracement levels which is why this isn't one of our favourite setups but still one that we are looking at. To add more clarity to this setup we need to look at the fundamentals. The USD is very strong at the moment and each week we see the USD getting stronger so this isn't something that we want to be going against. One of the main uses of palladium is for catalytic converters in car exhaust systems but with EV cars taking over the market we're starting to see less demand for palladium and it seems like there could be a surplus of palladium which would push price down further. With all of the confluences factors that we have we see price continuing its downwards trend that it is in.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all.
Stay Safe - JPI
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Palladium BUYIt's obvious that Palladium has reached to strong demand zone. a buy will last for approximately 50 days from now. Thank me later.
XPDUSD-TREND REVERSALXPDUSD is reversing its trend as it has completed bullish ab=cd pattren with bullish divergence at point d and also forming a inverse H&S pattren
Palladium continuous Bear Market. This is entirely linked to the South African economy, having reached all-time lows against the dollar. South Africa the largest producer of Platinum has suffered significantly due to its inability to keep its lights on, this of course affects the production of platinum and the whole economy. As power cuts intensify platinum and palladium will continue to plummet.
Palladium's primary trend remains bearish.Palladium - 24h expiry
Our short term bias remains
negative.
The primary trend remains bearish.
Preferred trade is to sell into rallies. Previous support at 1395 now becomes resistance.
We look for a temporary move higher.
We look to Sell at 1394.8 (stop at 1418.8)
Our profit targets will be 1334.8 and 1324.8
Resistance: 1373 / 1395 / 1415
Support: 1350 / 1330 / 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.
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.
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XPDUSD-AB=CD pattrenXPDUSD AB=CD bullsih pattren as we short it till point d and if bullish divergence occurs on point d we,ll buy from there.
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.
XPDUSD-TREND REVERSALXPDUSD is reversing its trend as it has made falling wedge and BULLISH divergence.
