(VIANEWS) – Palladium (XPD/USD) is showing signs of life on Tuesday, ending a five-day losing run, as risk sentiment remains stable during the session.
According to FXStreet, the industrial metal was sold off in the worldwide meltdown as fears about the economic recovery grew with rising Delta covid instances internationally.
The risk-off atmosphere boosted demand for the US dollar as a safe haven, exacerbating the pain in the USD-denominated Palladium price.
Palladium (PA=f) is currently on bearish momentum. At 06:06 EST on Wednesday, 21 July, Palladium (PA=f) is at $2,663.00 and 5.5% down since the last session’s close.
Today’s last reported volume for Palladium is 324, 100% below its average volume of 30371319471.35.
Regarding Palladium’s daily highs and lows, it’s 2.783% up from its trailing 7 days low of $2,590.90 and 2.365% down from its trailing 7 days high of $2,727.50.
Palladium’s last week, last month’s, and last quarter’s current volatility was a negative 1.37%, a positive 0.14%, and a positive 1.42%, 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 2.14% (last week), 1.31% (last month), and 1.42% (last quarter), respectively.
Last news about Palladium (PA=f)
Palladium price analysis: xpd/usd retests $2,600 as oversold conditions rescue bulls. According to FXStreet on Tuesday, 20 July, “The risk-off mood bolstered the safe-haven demand for the US dollar, which exacerbated the pain in the USD-denominated Palladium price.”, “The upturn in the price of Palladium comes on the back of oversold conditions seen in the Relative Strength Index (RSI) on the four-hour chart.”
Palladium price analysis: xpd/usd looks set for more gains above $2,600. According to FXStreet on Wednesday, 21 July, “Meanwhile, a daily closing below the 200-day EMA level of $2,565 will recall Palladium sellers targeting 61.8% Fibonacci retracement and June’s bottom, respectively around $2,508 and $2,460.”
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