Palladium (spot) intraday: as long as 2372 is support look for 2458.50

Trading Central 2021-01-13 12:50:07

Our pivot point stands at 2372.00.

Our preference: as long as 2372 is support look for 2458.50.

Alternative scenario: the downside breakout of 2372 would call for 2339.25 and 2320.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. Prices could retrace in the short term. Palladium (spot) is above its 20 and 50 period moving average (respectively at 2397.29 and 2388.22).

Supports and resistances:

2497.25 **

2477.75 *

2458.50 **

2439.00

2398.41 last

2384.75

2372.00 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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