Palladium (spot) intraday: as long as 2421.50 is resistance look for 2336.25

Trading Central 2021-01-14 05:36:04

Our pivot point stands at 2421.50.

Our preference: as long as 2421.50 is resistance look for 2336.25.

Alternative scenario: above 2421.50, look for 2454 and 2473.25.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Palladium (spot) is trading under both its 20 and 50 period moving average (respectively at 2394.85 and 2396.02).

Supports and resistances:

2473.25 **

2454.00 *

2421.50 **

2408.75

2394.42 last

2355.50

2336.25 **

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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