(VIANEWS) – According to FXStreet, the precious metal bounced off the 200-day EMA the previous day, snapping a five-day slump. The subsequent rebound movements cross the 50% Fibonacci retracement of the January-May upside to keep buyers optimistic.
However, the present uptrend is aiming for a 38.2 percent Fibonacci retracement at the $2,700 level. However, May’s low around $2,730 and March’s high near $2,760 might pose a challenge to the XPD/USD bulls after that.
Palladium (PA=f) is currently on bullish momentum. At 11:04 EST on Wednesday, 21 July, Palladium (PA=f) is at $2,673.00 and 1.23% up since the last session’s close.
Today’s last reported volume for Palladium is 733, 100% below its average volume of 30333796220.75.
Concerning Palladium’s daily highs and lows, it’s 1.304% up from its trailing 24 hours low of $2,638.60 and 1.304% up from its trailing 24 hours high of $2,638.60.
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 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.”, “The risk-off mood bolstered the safe-haven demand for the US dollar, which exacerbated the pain in the USD-denominated Palladium price.”
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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