Recommendation for Palladium: Strong Sell
Sell Stop : Below 1760.90
Stop Loss : Above 2057.75
| Indicator | Value | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
On the daily timeframe the XPDUSD: D1 has fallen below the 200-day moving average MA(200), which is levelling off. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 1760.90. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the upper Donchian boundary at 2057.75. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (2057.75) without reaching the order (1760.90), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis
Global car sales fell sharply in April. Will the XPDUSD continue declining?