Palladium weekly view...Green zone around 2450... is immediate support level... below this... sizeable pullback coming..😉 for atlist 15-20%.... no new investment buy at this level...
XPDUSD trade ideas
XPD/USD 4h analysis possible buy Hello everyone , as we all know the market action discounts everything :)
The XPD/USD seem to continue its movement in an upward channel, there are 3 different scenarios that am seeing the right now :
1_The price will drop down to the old resistance line which is the support line now at 2712.474 and then bounce back up and maybe breaking the new resistance line at 2747.800 which if that happen thats a great bullish mark , where we could use it to trade breakouts.
if you dont know what is a breakout then watch this
2_The price would continue the bullish movement and reaching the resistance line at 2747.800 and breaking out which could be a great buy opportunity
3_The price will reached the support line at 2712.474 and if the price breakout that support line it would be a confirmation that the price will drop down and it a possible sell signal
Using different indicators showing that the market is bullish so scenarios 1 or 2 is more possible then the 3 :
1_The market price is moving above the MA and EMA (bullish sign)
2_The RSI is at 64,99 showing strength is the market and could be reaching overbought zone at 70 (bullish sign)
3_The MACD seems to be gaining more momentum with the trend going through a positive crossover for now (bullish sign)
Support & Resistance points :
support Resistance
1_ 2719.46 1_2738.34
2_ 2710.04 2_2747.80
3_ 2700.58 3_2757.22
Fundamental point of view :
One-month risk reversal on Palladium (XPD/USD), a measure of the spread between call and put prices, not only snaps a two-day uptrend but also marks the heaviest fall since last Thursday, according to data source Reuters.
A call option gives the holder the right but not obligation to buy the underlying asset at a predetermined price on or before a specific date. A put option represents a right to sell. That said, the daily difference between them slumps to -0.012 by the end of Wednesday’s trading session, per Reuters.
The moves could be linked to the XPD/USD price performance that prints a three-day uptrend of around $2,650 by the press time of early Thursday.
As the options market signal favors the palladium bears, sluggish momentum amid the pre-ECB caution and a light calendar tests the commodity traders. according to fxstreet
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This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view , not financial advice.
If you have any questions please ask and have a great day !!!
Thank you for reading.
Palladium Hits Strong Resistance! What Next?Since our last post, palladium has made good progress, moving up $90 to meet the resistance
from February 2020. Price is at an interesting point, because a clean break above and we
should see price move towards the all-time high at $3017.
The weekly 50 simple moving average has aided this gradual upwards move. The first break of
$2875 was short-lived as price came tumbling down and reentered consolidation in April/May.
Price is still in consolidation, and the longer it does so, the bigger the move we can expect
in the direction of the breakout.
So should we see a breakout to the upside, which is the bias as the prior trend was bullish,
we can expect a solid long-term uptrend to unfold.
This is why we want to position ourselves to take advantage of any breakouts that may occur.
It will require some patience while price sets itself up, but the reward will more than make
up for the time sitting on the sidelines.
We will continue to follow the journey of this commodity.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Palladium Ready For A Breakout?Palladium looks set to make another attempt at breaking out of the 16 month period
of consolidation, which began in February 2020.
A break above the consolidation high at $2875 was made in April this year, but that
was short-lived as price returned back into the consolidation zone after being forced
down by the $300 round number psychological resistance level.
During the sideways market movement, price has still respected the 50 simple moving
average, which has acted as support, helping price create higher lows.
Last week we had a reversal just around the 50 simple moving average, which was shown
in a recent post, and this week price is gaining momentum and heading towards
resistance at $2875.
If this level is broken then we still have the $3000 round number and the all-time high
at $3017 in the way.
The long-term movement has been bullish prior to the consolidation period, so the bias
is for a break out to the upside.
Should we finally have a breakout, then we should see a linear trend unfold as this
commodity has trended really well in the past.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Palladium: further upside potential?The 200-day recently acted as major support and the price action remains above this key level.
Upside price momentum supports the bullish trend.
Above 2650 supports a bullish bias.
RSI leaves enough room for further upside price potential.
Pre-empting trade - adjust risk accordingly.
Profit target: 2900
Stop-loss: 2600
PALLADIUM Excellent long-term buy opportunityPattern: Channel Up on 1D.
Signal: Buy as the price is rebounding after hitting the 1D MA200 (orange trend-line) and the 1 year RSI Support. You can wait for the MACD Bullish Cross to confirm that.
Target: 2950 (top/ Higher High of the Channel Up) and 3300 in extension (1.5 Fibonacci extension as with previous Highs).
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Palladium Bounces After Free FallFollowing the free fall we witnessed in Palladium last week, price has appeared to have
found some form of support just above the 50 simple moving average.
Price does tend to hit the 50 simple moving average, so if we see further declines, we may
see price tag this indicator before seeing a continuation to the upside.
In April this year, price had finally broken out of the 14 month-long period of consolidation
but then struggled to remain above the consolidation resistance level at $2875.
With price back inside the consolidation zone, we need to see another breakout but this
time above the new all-time high at $3017. This would also mean a breakout above the
$3000 round number.
Overall, price is creating higher lows, but as price is still in the consolidation zone, its
behaviour may be unpredictable, which is why we wait for breakouts to confirm trend continuations.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Same scallop formation as 2001Palladium is doing a very similar pattern to the asset bubble for palladium going into 2021. Palladium prices are extremely lofty right now and today's price action confirms it.
I've been long on palladium for a long time (see below) but its feeling like a ripe time to close
Palladium Down 9%Palladium is currently taking a dive, and something similar is happening with Gold and
Silver right now. The news is likely fueling this and the decline could be short-lived.
In April of this year, price had broken out and created a new record high at $3017, hitting
the $3000 round number. This psychological level of resistance created an obstacle for
price and forced price down.
This week, we see a strong bearish move with the next level of support based on this
timeframe being the 50 simple moving average.
Price has used this indicator as support several times in this stock’s history, so this is the
obvious level that price may gravitate towards.
Palladium has been making good progress since the 47% decline during the 2020 global
pandemic, and this is just another bump in the road that price will need to navigate around.
Patience for now as we wait to see how far price will drop and what price will decide
to do once it finds support.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
PALLADIUM Sell IdeaWaiting for a short-term sell setup on Palladium.
We are bullish on Palladium however if we get a retracement this looks to be a good quick short-term sell opportunity.
PALLADIUM 4H - Long ideaExcalibur has given us a couple of long indications on this over the last 2 weeks. Lets see if it goes to its target level indicated.
KOG
PALLADIUM Trade based on the 4H MA200 and the 1D MA200Pattern: Channel Up on 1D.
Signal: As long as the 4H MA200 (yellow trend-line) supports, buy the dips. If it breaks potential prolonged sideways action until the 1D MA200 (orange trend-line) approaches.
Target: Trade within the patterns that will be formed.
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PALLADIUM PRIMARY ANALYSISJust to represent graphically, we have the square of sides 441.71 X 441.71 on both sides
The 0.618 Fib division of the square was the level price reached in February 2020, the top of the crash,
The crash settled on the 0.382 division of the square for the next advance
The bottom of the crash was 883 weeks from the origin of the cycle in 2003
So time axis reached 2.0 of 441.71 exactly at the bottom of the crash and price axis reached only 0.618 level
441.71 * 0.618 = 273 units ( Price axis )
441.71 * 2.0 = 883.42 units ( Time axis )
So we expect that between the 2.0 time and 2.618 time axis the top could be reached. Prior to the 2.618 time we
have the 2.236 or root 5 time axis to monitor against price.
Good luck and take care guys
Palladium Setting Up To Go LongPalladium had a nice run between 2018 and 2020 with a rise of 245% during this period
before the Covid-19 pandemic hit price.
From that point, price created an all-time high at the time of £2875, then there was
a sharp decline to near the $1500 round number.
The round number and the 50 simple moving average cushioned the fall and gave price
enough support to find its footing.
Price has slowly been climbing back up, using the 50 simple moving average as support
along the way, and went on to create new all-time highs last month at $3017.
The previous all-time high is below price and has acted as support already and may be
the base price needs to help it to continue creating record highs.
If price can break and close above the recent high, this would also take price above
the $3000 round number and allow us to look for a position in this commodity.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
