The Palladium price is dropping 2.93%

Fast Moving Market - 25/07/2024

25 July, 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: The Palladium price is dropping 2.93%, breaking back below the mark of $900 ahead of the US GDP (q2) data at 13:30 GMT+1.

Possible Scenarios:

If Palladium fails to break below Support 1 of 878.85, our Research Department expects Palladium to undergo a short- term upward correction.

If Palladium manages to break below Support 1 of 878.85, our Research Department expects Palladium to extend its losses to its Support 2 of 868.80.

Support and Resistance Levels:

PALLADIUM	S3	S2	S1	Reference Price	R1	R2	R3
PALLADIUM	858.75	868.80	878.85	892.25	905.65	915.70	925.75

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*

USD

EUR**

GBP***

(+/-)100$

(+/-)92.26€

(+/-)77.62£

* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.08381
***GBP/USD= 1.28820
Calculations for exchange rate used as of 10:30 (GMT+1) 25/07/2024

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