NEWS: Palladium price increased 2.0%. Palladium prices increased sharply as the US dollar fell after hitting its highest levels since early January.
Possible Scenarios:
If Palladium fails to breach through R1 of 1031.06, our Research Department expects the Palladium to undergo a short- term downward correction.
If Palladium manages to break above its R1 of 1031.06, our Research Department expects the Palladium to extend its gains to its R2 of 1047.23.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
955.60 |
971.77 |
987.94 |
1009.50 |
1031.06 |
1047.23 |
1063.40 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.28 |
(+/-) £79.09 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08368
***GBP/USD = 1.26446
Calculations for exchange rate used as of Monday, March 25, 2024, GMT 13:55h