NEWS: Palladium price increased 2.2% . Palladium prices edged higher following fresh indications of strong demand, and as the market awaited a crucial interest rate decision by the U.S. Federal Reserve.
Possible Scenarios:
if Palladium fails to breach through R2 of 1411.61, our Research Department expects the Palladium to undergo a short- term downward correction.
If Palladium manages to break above its R2 of 1411.61, our Research Department expects the Palladium to extend its gains to its R3 of 1430.4.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1305.10 |
1323.90 |
1342.69 |
1367.75 |
1392.81 |
1411.61 |
1430.40 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.74 |
(+/-) £81.5 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.07811
***GBP/USD = 1.22714
Calculations for exchange rate used as of Wednesday, March 22, 2023, 14:10: AM GMT