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Is the Price of XPDUSD Starting a Swing Higher? | Commodities | Palladium

Published: 11.08.2023
by Joseph Jeffriess

Today’s focus: Palladium

Pattern – Descending triangle / Range
Support – 1223
Resistance – 1320

• Palladium added 4.37% on Thursday
• Palladium and Platinum ignored USD strength to finish firm on Thursday.

In today’s video, we’re looking primarily at Palladium, but we have also mentioned Platnuim, as it also posted a solid session on Thursday.

After yesterday’s rally, we have looked at a few things that have stood out in the buyer’s favour, but we have also broken down the remaining hurdles and what we want to see from the price to confirm the bullish signs.

Do you trade Palladium? If so, please let us know your thoughts on the descending triangle pattern and if you agree with the current volume supporting yesterday’s move.

Have a great day and good trading.

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