Palladium Technical Analysis | Palladium Trading: 2022-09-12 | IFCM
IFC Markets Online CFD Broker

Palladium Technical Analysis - Palladium Trading: 2022-09-12

Palladium Technical Analysis Summary

Accelerometer arrow
Strong SellSellNeutralBuyStrong Buy

Above 2230

Buy Stop

Below 1930

Stop Loss

Mary Wild
Senior Analytical Expert
Articles 2058
IndicatorSignal
RSI Neutral
MACD Neutral
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Neutral

Palladium Chart Analysis

Palladium Chart Analysis

Palladium Technical Analysis

On the daily timeframe, XPDUSD: D1 is in the rising channel and is moving towards its upper border. It must overcome the 200-day moving average before entering a position. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if XPDUSD: D1 rises above its latest up fractal, 200-day moving average and upper Bollinger band: 2230. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal and the last lower fractal: 1930. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (1930) without activating the order (2230), it is recommended to delete the order: the market is undergoing internal changes that were not taken into account.

Fundamental Analysis of Precious Metals - Palladium

Precious metals rise in price amid the correction of the US dollar index. Will the XPDUSD quotes continue to rise?

Last week, the US dollar index hit a 20-year high. However, it failed to consolidate above the psychological mark of 110 points and corrected down. Investors are looking forward to the publication of the United States Consumer Price Index for August, which will be released on September 13th. It is forecast to increase to 9% y/y from 8.5% y/y in July. This may slow down the strengthening of the US currency and support the demand for precious metals. Russia ranks first in the world in palladium production. Its share is about 40%. Accordingly, economic sanctions against Russia may contribute to the rise in the price of palladium. Worth noting, this metal is actively used in various industries as a catalyst.

IFCM Trading Academy - New era in Forex education
Pass Your Course:
  • Get Certificate
trading academy

The best trading conditions and high-level services for our clients

We are ready to assist you on any issue 24 hours a day.

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Close support
Call to Skype Call to WhatsApp Call to telegram Call Back Call to messenger