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Palladium Technical Analysis - Palladium Trading: 2022-12-14
Palladium Technical Analysis Summary
Above 2012
Buy Stop
Below 1753
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Palladium Chart Analysis
Palladium Technical Analysis
On the daily timeframe, XPDUSD: D1 is in the neutral channel. It has not broken through its lower boundary and may move towards the upper boundary. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if XPDUSD: D1 rises above the last high and upper Bollinger band: 2012. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal and the lower Bollinger line: 1753. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (1753) without activating the order (2012), it is recommended to delete the order: the market is undergoing internal changes that were not taken into account.
Fundamental Analysis of Precious Metals - Palladium
The global deficit of palladium may increase. Will XRP USD quotes rise?
London Platinum and Palladium Market (LPPM) is going to remove Russian refineries from the Good Delivery list as part of economic sanctions. According to the Russian producer of non-ferrous and precious metals, Norilsk Nickel, this could cause a global shortage of palladium in 2022 at the level of 600 thousand ounces and in 2023 - 800 thousand ounces. Global palladium supply could fall by 10% and global demand by 4% (to 9.5 million ounces). Russia ranks first in the world in palladium production, its share is about 40%.
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