NEWS: Palladium price increased 2.0%. Palladium prices moved higher as risk sentiment toward the metals improved.
Possible Scenarios:
If Palladium fails to breach through R1 of 1045.85, our Research Department expects the Palladium to undergo a short- term downward correction.
If Palladium manages to break above its R1 of 1045.85, our Research Department expects the Palladium to extend its gains to its R2 of 1060.55.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
977.25 |
991.95 |
1006.65 |
1026.25 |
1045.85 |
1060.55 |
1075.25 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.93 |
(+/-) £80.23 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.06465
***GBP/USD = 1.24647
Calculations for exchange rate used as of Wednesday, April 17, 2024, GMT+1 14:55h