Will palladium price hold $1,359 support as weak momentum persists?

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Palladium slips 0.36% to $1,391 today

Highlights

XPD/USD remains below short-, medium-, and long-term moving averages, confirming persistent downside pressure across all timeframes.
Momentum indicators such as MACD and RSI deliver bearish signals, with oversold Stoch RSI suggesting little short-term rebound potential.
Expected 1 to 2 day range is $1,359 to $1,423, with a 74% probability assigned to further downside.

Bearish momentum persists as resistance aligns with weak signals

On the hourly chart, XPD/USD trades below its MA-20 at $1,395 and its MA-50 at $1,403, while also staying well under the MA-200 at $1,458. The Ichimoku Kijun line is positioned at $1,405 and serves as immediate resistance. Momentum signals remain negative: MACD is at Strong Sell, while ADX is Neutral, flagging weak trend strength. RSI stands at 47.55 (Sell), Stochastic RSI is Oversold, and CCI is Neutral, all hinting at subdued upward momentum. Bull/Bear Power indicates buyer dominance, which diverges from the generally bearish momentum profile, and Awesome Oscillator reads Neutral.

Sideways trade likely as low rebound odds persist

Over the next 1–2 days, XPD/USD is projected to trade between $1,359 and $1,423, with a model-estimated 26% probability of an upward move and a 74% probability of a further decline. The most likely scenario is sideways price consolidation within this volatility band. A sustained rebound would require a decisive breakout above $1,405 resistance, whereas a drop below $1,359 support would confirm renewed bearish momentum.

Viktoras Karapetjanc, expert at Traders Union, sees palladium trading under pressure, with key levels still acting as resistance. He notes that momentum remains unfavorable and the recent price action reflects a lack of strong bullish catalysts. While some support exists, the technicals suggest that sideways movement or further weakness is likely. Karapetjanc remains cautiously optimistic and awaits a clearer macro or sentiment trigger. "A decisive breakout above $1,405 could signal a turnaround, but for now, patience and discipline are essential for traders in this market."

Earlier, analysts noted that palladium was exhibiting strong short- and medium-term momentum, though upside was restrained by longer-term technical resistance and supply-side influences. The current setup signals a shift from near-term bullish momentum to a more cautious, rangebound environment, making the $1,359 support level critical for traders watching for a potential downside break.

Source of Data: XPD Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.