Palladium price is rising 1.3%

Fast Moving Market - 17/10/2024

17 October, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

NEWS: Palladium price is rising 1.3%, following China’s announced stimulus package.

Possible Scenarios:

If Palladium fails to breach through R1 of 1038.28, our Research Department expects the Palladium to undergo a short- term downward correction.

If Palladium manages to break above its R1 of 1038.28, our Research Department expects the Palladium to extend its gains to its R2 of 1048.24.

Support and Resistance Levels:

Palladium	S3	S2	S1	Reference Price	R1	R2	R3
Palladium	991.80	1001.76	1011.72	1025.00	1038.28	1048.24	1058.20

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*	USD	EUR**	GBP***
1 dollar per 1 trading lot*	(+/-) $100	(+/-) €92.03	(+/-) £76.87

*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08659
***GBP/USD = 1.30093
Calculations for exchange rate used as of Thursday, October 17, 2024, 12:10 GMT + 1

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