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
XPDUSDG trade ideas
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.
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.
XPDUSD - Falling Wedge formedFormation of falling wedge combined with divergence is signaling bullish breakout.
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.
W9.1-11 PALLADIUM BULLISH IDEA (BULLISH FLAG)POTENTIAL BULLISH ENTRY
Dow Theory In Place - higher highs and higher lows Expected in Place (Trend continues)
Formation of bullish flag coupled (continuation pattern)
SL & TP Levels are defined.
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.
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.
XPDUSD Potential ReversalOANDA:XPDUSD
Hey traders, It seems Palladium after a long downtrend shows first signs of reversals, as mentioned on chart after taking last 4h LH on 13th of March and forming a daily LH also after breaking it's long term trend line possibly ranging in a channel. we need to be patient and see a break then a clean pullback to channel's top zone for possible long trades.
Descending Triangle: XPDUSDThe Chart is making a descending triangle as it is not breaking the neckline (Entry Point/Sell Stop) hence we will go with the bearish market.
XPDUSD - Double Top with bearish divergenceDouble Top with bearish divergence - Sell Stop at neckline
Big game is coming .... againPalladium is oversold. DXY is about to crash. Aotomotive markets are on rise. Time to buy!
XPDUSDXPDUSD: the chart in a consolidation phase. and mentioned proper support and resistance level. and put a pending order.
XPD ON A BULLISH TREND TO THE UPSIDEHello Traders & Hodl'ers!
I wanted to bring our attention to a precious metal called Palladium (XPD)
It's a very interesting chart as it has pronounced Elliot Waves which can be clearly counted.
Based on my analysis, we are nearing the end of subwave 4 of 3, seeing a nice reaction from our 1.618 Fib Expansion level
I am expecting a bit more downside; possibly to the bottom of our ascending channel or to test our monthly level of 1056
If you think you've gotten awesome content from my TA, please smash that like (boost) button!
It keeps me motivated to continue hitting the charts for y'all!!
I'd also love to see requests on any chart you'd like me to look at!
So please leave a comment on what Analysis you'd like me to do next! <333333
PALLADIUM BUY LIMIT TRADE SETI think we will see a sharp drop in precious metals in the coming weeks, and I will be looking for opportunities to build my long position for the long-haul.
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.
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.
