Palladium weekly special report based on 1.00 Lot Calculation:
TECHNICAL ANALYSIS:
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BREAKING: PALLADIUM HAS UNDERGONE A NEGATIVE PRICE CORRECTION OF 27% (near 340 dollars) to trade near the mark of $900 again.
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PALLADIUM PRICES HAVE TESTED THE MARK OF $900 (OR NEAR) 10 TIMES IN 2024. This is the 11th time the Palladium prices were fluctuating around the mark of $900 in 2024.
GRAPH (Daily): January 2024 – November 2024
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2024 STATISTICS: PALLADIUM TENDS TO RECOVER BY AROUND 15% AFTER TESTING LOWS BELOW THE MARK OF $900.
DATA SOURCE: Fortrade MetaTrader 4
Please note that past performance does not guarantee future results
EVENTS (CHINA):
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FRIDAY, NOVEMBER 15 AT 02:00 GMT: CHINA INDUSTRIAL PRODUCTION (OCTOBER) (PREVIOUS: 5.4% up from 4.5%). China is the largest Palladium consumer in the world and positive data on industrial production for October could have positive impact on Palladium price.
NEWS:
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BREAKING (NOVEMBER 8): CHINA ANNOUNCED NEW PLANS TO INCREASE SUPPORT TO ITS ECONOMY. The new package includes 6 trillion yuan (~840 billion dollars), to resolve the debt issues related to local government debt.
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BREAKING (OCTOBER 22): U.S. ASKS GROUP-7 TO CONSIDER SANCTIONS ON RUSSIAN PALLADIUM, THE LARGEST PALLADIUM SUPPLIER IN THE WORLD. According to Bloomberg, the US asked the Group of Seven allies to consider sanctions on Russian palladium and titanium as the Biden administration mulls fresh ways to squeeze President Vladimir Putin’s war machine. Biden administration officials floated the possibility during a meeting of G-7 deputy finance ministers on Tuesday (October 22) in Washington.
ANALYST OPINION:
Source: Bloomberg Terminal
PALLADIUM, November 14, 2024
Current Price: 913
|
PALLADIUM |
Weekly |
|
Trend direction |
|
|
1250 |
|
|
1100 |
|
|
980 |
|
|
850 |
|
|
840 |
|
|
830 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
33,700 |
18,700 |
6,700 |
-6,300 |
-7,300 |
-8,300 |
|
Profit or loss in €2 |
32,052 |
17,786 |
6,372 |
-5,992 |
-6,943 |
-7,894 |
|
Profit or loss in £2 |
26,651 |
14,788 |
5,299 |
-4,982 |
-5,773 |
-6,564 |
|
Profit or loss in C$2 |
47,235 |
26,210 |
9,391 |
-8,830 |
-10,232 |
-11,634 |
- 1.00 lot is equivalent of 100 units
- Calculations for exchange rate used as of 13:00 (GMT) 14/11/2024
There is a possibility to use Stop-Loss and Take-Profit.
-
You may wish to consider closing your position in profit, even if it is lower than suggested one.
-
Trailing stop technique could protect the profit.