Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Palladium is down by 42%
Information is not investment advice
Key indicators
Performance in 2020: -10%
Last day range: $1,678 - $2,046
52-week range: $1,678 - $2,878
What’s happening?
On February 27, palladium was at its all-time high of $2,878. As you can see, until then, it cared pretty little about the coronavirus and its consequences on the global economy. But finally, the sell-off mood hit this asset as well. Now, it trades at $1,748 after it fell to Autumn-2019 low of $1,674. From the all-time high, it makes a 42% drop! Needless to say, all the Moving Averages were crossed in no time. Currently, the support of $1,300 may be the closest target, after a correction upwards takes place.
Technical levels
Resistance $2,048
Support $1,300
Similar
Brutal session in the equity markets yesterday
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The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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