Palladium Price Analysis: XPD/USD to find support at $1768 – Commerzbank

Palladium (XPD/USD) is under pressure. But it is expected to find some good support ahead of the 200-week ma at $1768, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

Attention is on the 200-week ma at $1768

“Palladium has again tested the low of $1858, which has so far held. Directly below here lies the 200-week ma at $1768 and we suspect that downside flurries may be relatively short-lived. We also note the $1838 June 2020 low is here.” 

“Near-term rallies will find initial resistance at the 20-day ma at $2094 and the November 2020 low at $2185. This guards the 23rd August low at $2270 and the 55-day ma at $2398.”