NEWS: Palladium price is increasing 1.7% ahead of the US Consumer Price Index (CPI) inflation data which will be released today.
Possible Scenarios:
If Palladium fails to breach through R2 of 964.92, our Research Department expects the Palladium to undergo a short- term downward correction.
If Palladium manages to break above its R2 of 964.92, our Research Department expects the Palladium to extend its gains to its R3 of 973.45.
Support and Resistance Levels:
Palladium |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
916.55 |
925.09 |
933.62 |
945.00 |
956.38 |
964.92 |
973.45 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €96.98 |
(+/-) £81.82 |
*1 trading lot is equivalent of 100 units
**EUR/USD= 1.03112
***GBP/USD= 1.22211
Calculations for exchange rate used as of Wednesday, January 15, 2025, 10:05 GMT