Palladium technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Palladium is at a critical technical juncture, testing the major support zone around $1,100 after a significant retracement from the $1,350 resistance. After a strong upward trend met significant selling pressure at the $1,350 resistance, a sharp corrective decline brought the price down to this $1,100 area, which is a critical demand zone where buyers have previously shown interest. The market's reaction here will likely determine the next major trend. For a bullish outlook to materialize, buyers must successfully defend this support, which would confirm the decline was a healthy correction. A bounce from here would first target intermediate resistance around $1,225 before a potential re-test of the major $1,350 high. Conversely, a bearish scenario would unfold if momentum continues to fade and the price decisively breaks and closes below the $1,100 support



A bounce from here would first target intermediate resistance around $1,225 before a potential re-test of the major $1,350 high. Conversely, a bearish scenario would unfold if momentum continues to fade and the price decisively breaks and closes below the $1,100 support

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