Palladium Price Analysis: XPD/USD looks for a breakout of the symmetrical triangle

  • Palladium edges lower in the early European session on Tuesday.
  • Prices consolidate for the past 2-3 sessions in a very narrow trade band.
  • Momentum oscillator remained in the oversold zone.

Palladium (XPD/USD) edges lower on Tuesday, following the previous session’s consolidative movement. The metal prices hover in a very narrow trade band with a bearish sentiment.

At the time of writing, XPD/USD is trading at $2,399, up 0.28% for the day.

Palladium daily chart

On the daily chart, the metal is on the verge of a symmetrical triangle breakout of near $2,400. Bears already make dominance below 20-day Simple Moving Average (SMA) at $2,404.

The technical set-up suggests an upcoming downside movement for Palladium.

Being said, prices could move back to the $2,365 horizontal support level.

Next, the bears will attempt to retest the $2,330 horizontal support level followed by the psychological $2,300 level.

Alternatively, if price breakout above the ascending trendline of the triangle, it could test the high of September 1 at $2,446.72.

Any uptick in the Moving Average Convergence Divergence (MACD) would amplify the buying pressure toward the $2,470 horizontal resistance level.

The next upside target for the bulls would be the psychologically level around $2,500.

Palladium additional levels


Today last price 2399.35
Today Daily Change -6.19
Today Daily Change % -0.26
Today daily open 2405.54
Daily SMA20 2415.92
Daily SMA50 2564.49
Daily SMA100 2681.81
Daily SMA200 2579.87
Previous Daily High 2415.48
Previous Daily Low 2393.29
Previous Weekly High 2446.72
Previous Weekly Low 2390.09
Previous Monthly High 2684.23
Previous Monthly Low 2260.56
Daily Fibonacci 38.2% 2401.77
Daily Fibonacci 61.8% 2407
Daily Pivot Point S1 2394.06
Daily Pivot Point S2 2382.58
Daily Pivot Point S3 2371.87
Daily Pivot Point R1 2416.25
Daily Pivot Point R2 2426.96
Daily Pivot Point R3 2438.44



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