Pall

Technical Analysis – Palladium futures test floor of sideways market

Posted on June 26, 2020 at 5:10 am GMT

Palladium futures have consolidated below the 1,853 level, that being the 50.0% Fibonacci retracement of the up leg from 1,353 to 2,354, after yesterday challenging the bottom of a one-month trading range. The latest negative push within the range has some backing from the bearish overlaps of the mostly horizontal 200-period simple moving average (SMA) by the downward sloping 50- and 100-period ones. Nevertheless, the negative bearing within the short-term oscillators has paused and thus a bounce from the foundation [..]

Technical Analysis – Palladium’s correction from all-time peak could be short lived as positive structure holds

Posted on March 9, 2020 at 2:17 pm GMT

Palladium futures look to have encountered significant support from the 50-day simple moving average (SMA) and the 2,250 level, which is the 38.2% Fibonacci retracement of the up leg from 1,376 to 2,786.16. The retracement off the fresh all-time high of 2,786.16, is aided by the negative momentum reflected in the technical oscillators. The MACD, is in the positive area but is distancing itself below its red trigger line, heading towards the zero level, while the RSI weakens, steering into [..]

Technical Analysis – Palladium futures sellers surface putting pressure on the ascent

Posted on January 9, 2020 at 1:42 pm GMT

Palladium futures sellers have emerged after the recent rally, which bounced off the 50-day simple moving average (SMA) at 1783 and stretched the commodity above the upper-Bollinger band plotting a fresh all-time-high of 2111.23. The upward sloping SMAs continue to paint an improving positive picture as do the technical indicators. That said, the slight decline in the RSI – in the overbought territory – suggests a slight weakening in the existing bullish view cautioning for a pullback towards the mid-level [..]

Technical Analysis – Palladium futures’ correction looks to test 50-day moving average

Posted on November 11, 2019 at 3:31 pm GMT

Palladium futures’ sharp pullback suggests that negative sentiment may be increasing, as it approaches the 50-day simple moving average (SMA), presently at 1660. Noteworthy, is the easing in the 20-day SMA’s slope, which could be the spark for the negative scenario. The bearish picture follows a three-month ascent, which commenced on August 2 from the 1376 level. The short-term oscillators confirm that negative momentum is increasing. The MACD has distanced itself below its red trigger line in the positive zone, [..]

Technical Analysis – Palladium futures climb higher; plot new all-time high

Posted on September 23, 2019 at 1:02 pm GMT

Palladium futures are logging new peaks after the tables turned on the bears on September 18, following three negative daily sessions from the recent high of 1617. The metal seems to have new life injected into the push higher, something also backed by the inclining simple moving averages (SMAs). Positive momentum has picked up with the thrust up to uncharted territory as the MACD continues to rise in the bullish area and above its red trigger line. The RSI has [..]

Technical Analysis – Palladium futures push to a new all-time peak

Posted on September 16, 2019 at 3:36 pm GMT

Palladium futures plotted a new all-time high of 1617.03 as the bulls surpassed the previous peaks from March 21 and July 11. However, the sellers have emerged and have frozen all short-term efforts of a climb higher, something which is also reflected in the momentum indicators. The MACD although in positive areas and above its trigger line, has flattened out, while the RSI has deflected off the 70-level and heads down. Despite this, the bigger positive picture from the simple [..]

Technical Analysis – Palladium futures looking more neutral after downside correction

Posted on April 3, 2019 at 3:06 pm GMT

Palladium futures have met resistance at the top of the Ichimoku cloud, having bounced off the bottom of the cloud only three sessions ago. Prices plunged to an 8-week low of 1301.04 last week before recovering to around the 23.6% Fibonacci retracement of the August 2018-March 2019 upleg from 812.65 to 1574.14. Looking at the technical indicators, an extension of the recovery is possible as the stochastics are still rising. However, the RSI is pointing to a weakening momentum as [..]

Technical Analysis – Palladium futures eye 1500 level but looking overbought

Posted on February 19, 2019 at 4:44 pm GMT

Palladium futures for March delivery scaled another all-time high on Tuesday, hitting an intra-day top of 1463.34. The commodity has been on a steep uptrend after reversing from the more than one-year low of 812.65 it ploughed in August 2018. The strong upside momentum looks set to continue in the near term as supported by the technical indicators. However, there is a risk of a downside correction as the indicators have stepped into overbought territory. The RSI has crossed above [..]

Special Report – Commodities end 2017 on strong note; set for a comeback in 2018

Posted on January 4, 2018 at 10:38 am GMT

Commodity prices had a mixed start to 2017, with the S&P Goldman Sachs Commodity Index (S&P GSCI) falling by 15% at its low point in June, driven down mainly by the decline in oil prices. However, as the OPEC-led output restrictions started to bite, crude oil prices turned higher, with a strong performance in the fourth quarter. Industrial metals also had an impressive run in 2017, particularly copper and aluminium. Going into 2018, most investors are bullish about commodities, especially [..]

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