NEWS: Palladium price is falling -7.9%. Earlier today Swiss Customs authorities reported exports of refined Palladium were up over 150%, Month-over-Month. They rose from 589 kilograms in April to 1,470 kilograms in May. Switzerland is a large refining hub for Palladium.
Possible Scenarios:
If Palladium fails to breach through Reference Price of 2550, our Research Department expects the Palladium to undergo a short-term upward correction.
If Palladium manages to break below its Reference Price of 2550, our Research Department expects the Palladium to extend its losses to its S1 of 2530.72.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2501.80 |
2516.26 |
2530.72 |
2550.00 |
2569.28 |
2583.74 |
2598.20 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €83.87 |
(+/-) £71.78 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.19232
***GBP/USD = 1.39320
Calculations for exchange rate used as of 16:20 (GMT+1) 17/06/2021