Palladium is rising today: what traders are watching (December 24)

Traders Union
All News
Financial News
Palladium Surges 5.67% Today to $1,857

Highlights

Palladium experienced a significant surge in demand as investors sought value opportunities amid a broader rally across metals markets.
Proxy trade buyers increased their activity, driving additional momentum and contributing to palladium's catching up with prior gains in other precious metals.
This uptick marked one of the strongest monthly advances for palladium in recent years, signaling renewed interest among market participants.

Surging demand lifts palladium as buyers pursue value during metals rally

Palladium recently experienced a surge in demand as market participants sought value opportunities during a rally across metals. Increased interest from proxy trade buyers contributed to this momentum, with the asset catching up to gains earlier seen in other precious metals. This marked one of the strongest monthly advances for palladium in recent years.

Anton Kharitonov, expert at Traders Union, notes that palladium has rallied sharply but appears extremely overbought on several technical indicators. He observes that sentiment has shifted rapidly on speculative demand, though fundamentals are not fully supporting such a strong move. Kharitonov is cautious about sustainability, citing the RSI and Stochastic RSI both in excess territory and warns that sentiment-driven runs often lead to sudden reversals. In his view, support at $1,564.32 is critical to watch for invalidation. "The risk of a sharp pullback outweighs upside at this stage — protection of capital should be the top priority for traders now."

Viktoras Karapetjanc, expert at Traders Union, sees robust institutional interest driving the recent surge in palladium. He emphasizes that increased buying from proxy trade participants signals constructive sentiment, aligning with broad momentum across metals. Karapetjanc believes the bullish structure remains intact with the price holding well above all key averages. "Further growth is expected if buyers defend above $1,800 — this market offers multiple setups for sustained upside."

Jainam Mehta, market strategist, highlights strong momentum supported by trend indicators but notes extreme readings in oscillators. He suggests the upside may stall near $1,900 unless fresh demand emerges. Mehta sees tactical opportunities for range trading between $1,800 and $1,900. "A potential breakout above resistance could trigger another leg higher — but I would consider fading overextended rallies near $1,900."

Overbought signals emerge as uptrend holds above key technical levels

The nearest dynamic support is located near $1,564.32, based on the Ichimoku Kijun, while resistance stands close to $1,900 as palladium has surpassed all major moving averages. Daily technical indicators, including the MACD and ADX, confirm a strong buy bias, but oscillators such as the RSI (81.23), Stochastic RSI (100), and CCI (133.8) point to overbought conditions. The Bull/Bear Power reading and the Awesome Oscillator both signal strong buyer dominance and reinforce the prevailing uptrend.

Previously it was reported that palladium held above key moving averages, indicating positive trends across all timeframes, as momentum signals were mixed — with MACD showing bullish energy but oscillators such as Stoch RSI and CCI reflecting overbought conditions. Last time, analysts noted the nearest dynamic support and moderating volatility, while the session opened slightly higher than the previous close and resistance was found near the upper end of the recent range.

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

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.