(VIANEWS) – As European traders prepare for Tuesday’s bell, Palladium (XPD/USD), remains mildly priced at $2,680. This is a 0.10% increase intraday. The precious metal rose for the second day in a row after crossing the trend line that was downwardly sloping since July 12.
FXStreet says that the SMAs, which are the Key Simple Moving Averages, limit the quotes’ immediate upside in the face of overbought RSI.
A pullback to the 50% Fibonacci Retracement Level of June 18 to Jul 06 upside (near $2,670) is therefore possible. Any further weakness is likely to be challenged by the 61.8% Fibonacci level of 2,622.
Palladium (PA) is currently on bearish momentum. At 11:06 EST on Tuesday, 3 August, Palladium (PA) is at $2,636.00 and 1.79% down since the last session’s close.
Today’s last reported volume for Palladium is 1118, 100% below its average volume of 29110949349.71.
Regarding Palladium’s daily highs and lows, it’s 0.746% down from its trailing 24 hours low of $2,655.80 and 0.746% down from its trailing 24 hours high of $2,655.80.
Palladium’s last week, last month’s, and last quarter’s current volatility was a negative 0.70%, a negative 0.13%, and a positive 1.43%, respectively.
Palladium’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 1.14% (last week), 1.37% (last month), and 1.43% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Palladium’s commodity is considered to be oversold (<=20).
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