Palladium (XPDUSD) Up $3.77 in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Price Base in Formation Over Past 30 Days

Palladium (XPDUSD) Up $3.77 in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Price Base in Formation Over Past 30 Days

Posted on by admin

Palladium 4 Hour Price Update

Updated June 19, 2020 11:18 AM GMT (07:18 AM EST)

1925 was the closing price of the four-hour candle for Palladium, resulting in the current 4 hour candle being one in which price moved up 0.2% ($3.77) from the last 4 hour candle. Relative to other instruments in the metals asset class, Palladium ranked 2nd since the last 4 hour candle in terms of percentage price change.

Palladium Daily Price Recap

The back and forth price flow continues for Palladium, which started today off at 1925 US dollars, up 0.2% ($3.77) from the previous day. Out of the 5 instruments in the metals asset class, Palladium ended up ranking 2nd for the day in terms of price change relative to the previous day. Below is a daily price chart of Palladium.

Palladium Technical Analysis

Volatility for Palladium has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Palladium’s price has gone up 5 of the previous 10 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Leave a Reply

Your email address will not be published. Required fields are marked *