NEWS: Palladium price increased 1.5%. Palladium price increased on the back of weak private sector job figures in the US.
Possible Scenarios:
If Palladium fails to breach through R1 of 1185.94, our Research Department expects the Palladium to undergo a short- term downward correction.
If Palladium manages to break above its R1 of 1185.94, our Research Department expects the Palladium to extend its gains to its R2 of 1201.65.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1112.65 |
1128.36 |
1144.06 |
1165.00 |
1185.94 |
1201.65 |
1217.35 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €95.1 |
(+/-) £82.29 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.05152
***GBP/USD = 1.21519
Calculations for exchange rate used as of Wednesday, October 4, 2023 GMT+1, 13:40