Palladium Price Analysis: 5-DMA, previous support from July challenge XPD/USD bulls


  • Palladium snaps two-day rebound from 14-month low, sidelined of late.
  • Support-turned-resistance, short-term moving average challenges recovery moves amid bearish MACD.
  • Sellers may eye fresh multi-month low, August lows add to the upside filters.

Palladium (XPD/USD) fades the previous two-day bounce off the multi-month low while portraying a sideways move near $2,014, down 0.60% intraday as European traders brush their screens for Friday’s work.

In doing so, the precious metal takes a U-turn from a two-month-old previous support line, as well as 5-DMA, amid bearish MACD signals.

As a result, the commodity sellers are bracing for a fresh low since July 2020 while initially targeting the latest bottom near $1,939.

Should the quote remains bearish below $1,939, the $1,900 threshold and late June 2020 trough near $1,815 will be in focus.

Alternatively, an upside clearance of $2,030 could trigger a short-term recovery targeting the August month’s low near $2,265.

However, any further upside will need to refresh the monthly top near $2,450 to recall the XPD/USD bulls.

Palladium: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 2016.5
Today Daily Change -10.05
Today Daily Change % -0.50%
Today daily open 2026.55
 
Trends
Daily SMA20 2282.47
Daily SMA50 2457.82
Daily SMA100 2608.71
Daily SMA200 2570.76
 
Levels
Previous Daily High 2078.03
Previous Daily Low 1991.73
Previous Weekly High 2415.48
Previous Weekly Low 2121.94
Previous Monthly High 2684.23
Previous Monthly Low 2260.56
Daily Fibonacci 38.2% 2045.06
Daily Fibonacci 61.8% 2024.7
Daily Pivot Point S1 1986.18
Daily Pivot Point S2 1945.8
Daily Pivot Point S3 1899.88
Daily Pivot Point R1 2072.48
Daily Pivot Point R2 2118.4
Daily Pivot Point R3 2158.78

 

 

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