Steady growth of Palladium - a reason to sell?

12 july 2022 62
Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Currencies"
2nd in the segments "Indices" and "Metals"
3rd in the segment "US stocks"
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Palladium prices on Thursday and Friday last week have risen sharply by 13%. The prices went up to the maximum since the beginning of May, but then the growth began to slip.

 

It is difficult for bulls to stay optimistic facing strong growth of dollar. The evening Doji star formed on the chart also indicates the end of the growth momentum. The RSI indicator has approached the overbought zone and is moving down, which also indicates that palladium suffers decline.

 

Now the price can return to the level of 1900, where the upward momentum started.

Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Currencies"
2nd in the segments "Indices" and "Metals"
3rd in the segment "US stocks"
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