Palladium (spot) intraday: as long as 2355.50 is resistance look for 2267.75

Trading Central 2020-11-21 05:58:04

Our pivot point stands at 2355.50.

Our preference: as long as 2355.50 is resistance look for 2267.75.

Alternative scenario: above 2355.50, look for 2388 and 2407.25.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Palladium (spot) is trading above its 20 period MA (2329.56) but under its 50 period MA (2331.79).

Supports and resistances:

2407.25 **

2388.00 *

2355.50 **

2342.75

2329.94 last

2287.00

2267.75 **

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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