Palladium Price Analysis: XPD/USD to resume its move downward to $1,495 – Credit Suisse
|Palladium is already holding a top and now at risk to a break of its 200-week average at $1,846/06. XPD/USD could fall as low as $1,495, according to strategists at Credit Suisse.
Consolidation seen as a temporary pause prior to a fresh leg lower
“Palladium already holds a top from the summer and the recent consolidation is seen as a temporary pause prior to a fresh leg lower.”
“Key remains the recent low, 200-week average and potential long-term uptrend at $1,846/06.”
“Below $1,846/06 should confirm a resumption of the downtrend for the year, with support seen next at $1,735 ahead of $1,670/65 and eventually $1,495.”
See – Palladium Price Analysis: XPD/USD looks vulnerable, support at $1,850 is exposed – Commerzbank
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