NEWS: Palladium price increased 2.5% after the Fed is expected to slow the pace of its rate hike to 50 basis points in December after delivering four straight 75 basis point increases.
Possible Scenarios:
if Palladium fails to breach through R2 of 1917.00, our Research Department expects the Palladium to undergo a short- term downward correction.
If Palladium manages to break above its R2 of 1917.00, our Research Department expects the Palladium to extend its gains to its R3 of 1934.35.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1818.65 |
1836.01 |
1853.36 |
1876.50 |
1899.64 |
1917.00 |
1934.35 |
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 = 1.03760
***GBP/USD = 1.19962
Calculations for exchange rate used as of 14:40 (GMT) 30/11/2022