Palladium tested support at 1820 and didn't found any strong buy signals so the guess is that this is where it breaks and moves towards 1677 as next support. We will short today and see what happens!
We've seen some impressive rally in January and we can still sense the presence of the bulls therefore today we gonna aim for 2505 as take profit target.
Due to the MLK holiday in US, yesterday we didn't saw much of a movement in the Palladium chart therefore we are about to stick with the same idea from 17th, a short movement up in attempt for a support growth around 1920 (sell) followed by immediate turndown looking towards 1821 (take profit)
Palladium is so far the biggest looser since the COVID, all of the relevant factors kept it from recovery due to the lower demand in automotive industry which made palladium popular in first place. Considering the inflation and very uncertain demand I think palladium will once again test it's lowest support and then skyrocket towards $ 3K.
