NEWS: Palladium price increased 2.0% as investors wagered that interest rates have likely reached near their peak in this tightening cycle. Such expectations were driven by easing global inflationary pressures and efforts by major central banks to avoid a broader banking crisis.
Possible Scenarios:
if Palladium fails to breach through R2 of 1500.92, our Research Department expects the Palladium to undergo a short- term downward correction.
If Palladium manages to break above its R2 of 1500.92, our Research Department expects the Palladium to extend its gains to its R3 of 1514.6.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1423.40 |
1437.08 |
1450.76 |
1469.00 |
1487.24 |
1500.92 |
1514.60 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €91.72 |
(+/-) £80.68 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.09023
***GBP/USD = 1.23920
Calculations for exchange rate used as of Friday, March 31, 2023, 9:20: AM GMT