Palladium technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Palladium is in a strong uptrend, trading inside a rising channel. The price is currently finding support near the 24-period moving average around 1287.00.



If the price holds above the channel's lower trendline support near 1250.00, the uptrend is likely to continue. The next target would be a retest of the recent highs around the 1350.00 resistance level. However, if the price breaks down below the channel support at 1250.00, it would be a sign of weakness. This could lead to a deeper correction towards the next major support level around 1177.00.
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