PALLADIUM Buy signal to the 1D MA50.

Palladium (XPDUSD) has been trading within a Falling Wedge pattern since late March and below the 1D MA50 (blue trend-line) since April 21. With the 1D Death Cross having been formed (when the 1D MA50 crosses below the 1D MA200), the market seems to be pricing a bottom, rather than preparing for a deeper fall. This is similar to the late September – October 2021 Support formation, which gradually rose above the 1D MA50.

As a result, with the 1D MACD also on a Bullish Cross, we are turning bullish on Palladium, aiming at the 1D MA50. Note that the ultimate long-term Support of the 1W MA300 is now above 1600. This is holding since January 03 2017.

Tradingview link:

https://www.tradingview.com/chart/XPDUSD/6TlcmvR0-PALLADIUM-Buy-signal-to-the-1D-MA50