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.
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