NEWS: Palladium price is rising 2.0%. Palladium prices rise as investors worry that the sanctions on Nornickel’s CEO could expand to sanctioning the company itself, which could cause a supply shock on palladium.
Possible Scenarios:
If Palladium fails to breach through R1 of 1912.74, our Research Department expects the Palladium to undergo a short- term downward correction.
If Palladium manages to break above its R1 of 1912.74, our Research Department expects the Palladium to extend its gains to its R2 of 1940.3.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1784.15 |
1811.71 |
1839.26 |
1876.00 |
1912.74 |
1940.30 |
1967.85 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €85.1 |
(+/-) £73.01 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.04460
***GBP/USD = 1.21095
Calculations for exchange rate used as of 14:20(GMT+1) 01/7/2022