CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Palladium

Special Reports - 19/11/2024

19 November, 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.

Palladium weekly special report based on 1.00 Lot Calculation:

TECHNICAL ANALYSIS:

  • BREAKING: PALLADIUM HAS UNDERGONE A NEGATIVE PRICE CORRECTION OF 27% (near 340 dollars) from $1251.25 to hit the mark of $909.50 on November 14, 2024.
  • PALLADIUM PRICES HAVE TESTED THE MARK OF $900 (OR NEAR) 11 TIMES IN 2024.

GRAPH (Daily): January 2024 – November 2024

  • 2024 STATISTICS: PALLADIUM TENDS TO RECOVER BY 14.51% AFTER TESTING LOWS NEAR THE MARK OF $900.

DATA SOURCE: Fortrade MetaTrader 4

Please note that past performance does not guarantee future results

NEWS:

  • GEOPOLITICAL TENSIONS RISE BETWEEN RUSSIA AND THE WEST: U.S.A. ALLOWED UKRAINE TO USE THEIR WEAPONS FOR LONG- RANGE TO STRIKE RUSSIAN TERRITORY INSIDE. President Vladimir Putin said that the West would be directly fighting with Russia if it allowed Ukraine to strike Russian territory with Western-made long-range missiles, a move he said would alter the nature and scope of the conflict.
  • 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.

EVENTS (CHINA):

  • SUNDAY, NOVEMBER 30 AT 01:30 GMT: CHINA MANUFACTURING PMI (NOVEMBER) (PREVIOUS: 50.1 up from 49.8). China is the largest Palladium consumer in the world and positive data on manufacturing activity for November could have positive impact on Palladium price.

ANALYST OPINION:

Source: Bloomberg Terminal

PALLADIUM, November 19, 2024
Current Price: 993

PALLADIUM

Weekly

Trend direction

UP

Resistance 3

1250

Resistance 2

1150

Resistance 1

1060

Support 1

930

Support 2

915

Support 3

900

Example of calculation base on weekly trend direction for 1.00 Lot1

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

25,700

15,700

6,500

-6,300

-7,800

-9,300

Profit or loss in €2

24,368

14,886

6,163

-5,973

-7,396

-8,818

Profit or loss in £2

20,357

12,436

5,149

-4,990

-6,178

-7,367

Profit or loss in C$2

36,048

22,022

9,117

-8,837

-10,941

-13,045

1. 1.00 lot is equivalent of 100 units

2. Calculations for exchange rate used as of 11:30 (GMT) 19/11/2024

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.
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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. 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. See full risk warning

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your invested capital.

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