Palladium (XPDUSD) Up $42.25 On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Entered Today Down 1.32%

Palladium (XPDUSD) Up $42.25 On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Entered Today Down 1.32%

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Palladium 4 Hour Price Update

Updated June 12, 2020 07:21 AM GMT (03:21 AM EST)

Palladium is up 2.05% ($42.25) since the previous 4 hours, marking the 5th candle in a row an increase has occurred. Out of the 5 instruments in the metals asset class, Palladium ended up ranking 2nd for the four-hour candle in terms of price change relative to the previous 4 hours.

Palladium Daily Price Recap

1921.5 was the closing price of the day for Palladium, resulting in today being one in which price moved down 1.32% ($25.68) from the day prior. 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 day prior. The daily price chart of Palladium below illustrates.

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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For additional context, note that price has gone down 16 out of the past 30 days.

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