NEWS: Palladium price is falling -1.8%. Palladium price is falling due to volatility ahead of Chinese economic data set to be released this week
Possible Scenarios:
If Palladium fails to breach through S2 of 947.25, our Research Department expects the Palladium to undergo a short- term upward correction.
If Palladium manages to break below its S2 of 947.25, our Research Department expects the Palladium to extend its losses to its S3 of 937.5.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
937.50 |
947.25 |
957.00 |
970.00 |
983.00 |
992.75 |
1002.50 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.06 |
(+/-) £80.13 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.07459
***GBP/USD = 1.24786
Calculations for exchange rate used as of Wednesday, May 8, 2024, GMT +1 13:50h