• Palladium takes offers to refresh intraday low, prints three-day downtrend.
  • Downward sloping RSI, failures to cross 100-SMA also strengthen bearish bias.
  • Bulls may refrain from entries unless crossing six-week-old falling trend line.

Palladium (XPD/USD) remains on the back foot for the third consecutive day, refreshes intraday bottom around $2,412 heading into Thursday’s European session.

Having failed to cross 100-SMA, the precious metal broke an ascending trend line from August 26 the previous day. The same joins descending RSI line to keep sellers hopeful.

Hence, the latest swing low, comprising 23.6% Fibonacci retracement of July 23 to August 23 downside around $2,370, lures the XPD/USD bears for now.

However, a clear downside past $2,370 won’t step back from challenging the last month’s low of $2,260. During the fall, August 20 peak surrounding $2,330 and the $2,300 threshold may offer intermediate halts.

Meanwhile, corrective pullback needs to cross the previous support and 100-SMA, respectively around $2,440 and $2,455, to justify the capacity of rebound.

Even if the quote manages to rise past $2,455, a 12-day-old horizontal hurdle near $2,473 and descending trend line from July 23, close to $2,575, will be crucial for the palladium buyers.

Palladium: Four-hour chart

Trend: Further weakness expected

Additional important levels

Today last price 2412.81
Today Daily Change -4.36
Today Daily Change % -0.18%
Today daily open 2417.17
Daily SMA20 2460.81
Daily SMA50 2597.63
Daily SMA100 2703.42
Daily SMA200 2578.18
Previous Daily High 2446.72
Previous Daily Low 2412.13
Previous Weekly High 2471.73
Previous Weekly Low 2260.56
Previous Monthly High 2684.23
Previous Monthly Low 2260.56
Daily Fibonacci 38.2% 2425.34
Daily Fibonacci 61.8% 2433.51
Daily Pivot Point S1 2403.96
Daily Pivot Point S2 2390.75
Daily Pivot Point S3 2369.37
Daily Pivot Point R1 2438.55
Daily Pivot Point R2 2459.93
Daily Pivot Point R3 2473.14



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

EUR/USD holds above 1.0700 after US inflation data

EUR/USD holds above 1.0700 after US inflation data

EUR/USD stays in the lower half of its daily range but continues to trade above 1.0700 in the early American session on Friday. The data from the US showed that the annual Core PCE Price Index declined to 4.9% in April as expected, making it difficult for the dollar to gather strength.


GBP/USD trades above 1.2600 as dollar struggles to find demand

GBP/USD trades above 1.2600 as dollar struggles to find demand

GBP/USD clings to daily gains above 1.2600 and remains on track to end the week in positive territory. The greenback struggles to attract investors after the data from the US showed that PCE inflation softened in April. 


Gold pulls away from daily highs, holds above $1,850

Gold pulls away from daily highs, holds above $1,850

Gold has lost its traction in the second half of the day on Friday and declined toward the $1,850 area. The benchmark 10-year US Treasury bond yield staged a modest rebound on the US PCE inflation data, not allowing XAU/USD to preserve its bullish momentum.

Gold News

Terra’s LUNA 2.0 support expands with Binance and Kraken welcoming the airdrop, here’s how you need to prepare

Terra’s LUNA 2.0 support expands with Binance and Kraken welcoming the airdrop, here’s how you need to prepare

Terra’s LUNA fork proposal has passed with 65.5% votes, Revival Plan 2 in action without algorithmic stablecoin UST. LUNA price could wipe out losses incurred by holders in the colossal crash of LUNC and UST. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!