PALLADIUM - 1H - Technical analysis published on 09/02/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
28%
39%
33%
My opinion
Bearish under 2,461.75 USD
My targets
2,422.38 USD (-0.54%)
2,391.06 USD (-1.82%)
My analysis
In the short term, we can see an acceleration in the bearish trend on PALLADIUM, which is a positive signal for sellers. As long as the price remains above 2,461.75 USD, a sale could be considered. The first bearish objective is located at 2,422.38 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2,391.06 USD as an objective. Crossing it would then enable sellers to target 2,356.00 USD. If the price were to return above 2,461.75 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
4.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
PALLADIUM rating 2,435.50 USD. The price registered a decrease of -0.25% on the session and was traded between 2,410.50 USD and 2,446.50 USD over the period. The price is currently at +1.04% from its lowest and -0.45% from its highest.2,410.50
2,446.50
2,435.50
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by PALLADIUM:
Technical
A technical analysis in 1H of this PALLADIUM chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 6 are neutral and 7 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2,356.00 | 2,391.06 | 2,422.38 | 2,435.50 | 2,461.75 | 2,480.00 | 2,500.00 |
| Change (%) | -3.26% | -1.82% | -0.54% | - | +1.08% | +1.83% | +2.65% |
| Change | -79.50 | -44.44 | -13.12 | - | +26.25 | +44.50 | +64.50 |
| Level | Intermediate | Major | Major | - | Minor | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,340.33 | 2,382.17 | 2,411.83 | 2,453.67 | 2,483.33 | 2,525.17 | 2,554.83 |
| Camarilla | 2,421.84 | 2,428.39 | 2,434.95 | 2,441.50 | 2,448.05 | 2,454.61 | 2,461.16 |
| Woodie | 2,334.25 | 2,379.13 | 2,405.75 | 2,450.63 | 2,477.25 | 2,522.13 | 2,548.75 |
| Fibonacci | 2,382.17 | 2,409.48 | 2,426.35 | 2,453.67 | 2,480.98 | 2,497.85 | 2,525.17 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,066.00 | 2,163.00 | 2,286.00 | 2,383.00 | 2,506.00 | 2,603.00 | 2,726.00 |
| Camarilla | 2,348.50 | 2,368.67 | 2,388.83 | 2,409.00 | 2,429.17 | 2,449.33 | 2,469.50 |
| Woodie | 2,079.00 | 2,169.50 | 2,299.00 | 2,389.50 | 2,519.00 | 2,609.50 | 2,739.00 |
| Fibonacci | 2,163.00 | 2,247.04 | 2,298.96 | 2,383.00 | 2,467.04 | 2,518.96 | 2,603.00 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,783.00 | 2,021.50 | 2,231.50 | 2,470.00 | 2,680.00 | 2,918.50 | 3,128.50 |
| Camarilla | 2,318.16 | 2,359.28 | 2,400.39 | 2,441.50 | 2,482.61 | 2,523.73 | 2,564.84 |
| Woodie | 1,768.75 | 2,014.38 | 2,217.25 | 2,462.88 | 2,665.75 | 2,911.38 | 3,114.25 |
| Fibonacci | 2,021.50 | 2,192.83 | 2,298.67 | 2,470.00 | 2,641.33 | 2,747.17 | 2,918.50 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 40.91 | |
| MACD (12,26,9): | -9.3100 | |
| Directional Movement: | -17.88 | |
| AROON (14): | -85.72 | |
| DEMA (21): | 2,428.86 | |
| Parabolic SAR (0,02-0,02-0,2): | 2,459.62 | |
| Elder Ray (13): | -4.93 | |
| Super Trend (3,10): | 2,451.37 | |
| Zig ZAG (10): | 2,436.50 | |
| VORTEX (21): | 0.8000 | |
| Stochastique (14,3,5): | 27.56 | |
| TEMA (21): | 2,421.87 | |
| Williams %R (14): | -77.92 | |
| Chande Momentum Oscillator (20): | -25.00 | |
| Repulse (5,40,3): | -0.0200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 1.71 |
| MA7: | 2,434.44 | |
| MA20: | 2,488.96 | |
| MA50: | 2,624.23 | |
| MA100: | 2,722.93 | |
| MAexp7: | 2,431.38 | |
| MAexp20: | 2,439.96 | |
| MAexp50: | 2,449.34 | |
| MAexp100: | 2,444.65 | |
| Price / MA7: | +0.04% | |
| Price / MA20: | -2.15% | |
| Price / MA50: | -7.19% | |
| Price / MA100: | -10.56% | |
| Price / MAexp7: | +0.17% | |
| Price / MAexp20: | -0.18% | |
| Price / MAexp50: | -0.57% | |
| Price / MAexp100: | -0.37% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The latest news and videos published on PALLADIUM at the time of the analysis were as follows:
-
Will palladium continue to drive higher? – 27 November 2020
-
Will palladium set a new record high? – 6th February 2020
-
“Buzz on the Street” Show: Palladium One Mining (TSX-V: PDM) (OTC: NKORF) News Report
-
Will palladium retest the recent all time high? – 21st November 2019
-
Will palladium see a pullback in the near term? – 17th October 2019
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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