Palladium Price Analysis: XPD/USD to plummet towarsd the $1,495 mark – Credit Suisse
|Palladium has broken further long-term supports to reinforce its existing top. Strategists at Credit Suisse expect XPD/USD to edge lower towards $1,495.
Initial support seen at $1,700
“Palladium maintains its top from the summer and has now broken next key support from the recent low, 200-week average and potential long-term uptrend at $1,846/06.”
“The break below $1846/06 should confirm a resumption of the downtrend for the year, with support seen next at $1,700, ahead of $1,670/65 and eventually $1,495.”
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