NEWS: Palladium price increased 1.4% as a result of the recent weakness in the US Dollar.
Possible Scenarios:
If Palladium fails to breach through R1 of 1037.99, our Research Department expects the Palladium to undergo a short- term downward correction.
If Palladium manages to break above its R1 of 1037.99, our Research Department expects the Palladium to extend its gains to its R2 of 1049.42.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
984.65 |
996.08 |
1007.51 |
1022.75 |
1037.99 |
1049.42 |
1060.85 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.34 |
(+/-) £79.18 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08297
***GBP/USD = 1.26293
Calculations for exchange rate used as of Monday, April 8, 2024, 12:00 GMT