XPDUSDSince August last year, Palladium had strong bullish momentum. It retraced to 31.8% Fibonacci on March and traded sideways after finding support on June. On Thursday it posted limited gains as investors widely took "a wait and see" approach. Upcoming summit off global leaders will decide investors on future moves. Based on current trade optimism, the truce between the two largest economies could underpin commodity to March peak around the 1600 level. Strong support is found on 38.2% Fibonacci near 1300 level.
