Monday's session has seen a strengthening of the dollar, as well as increases in U.S. bond yields, translating into a pullback in the precious metals market. The worst performer today is palladium, which is losing more than 3%. Platinum, on the other hand, is trading more than 1% lower, while gold and silver are off 0.3 and 0.15%, respectively.
Looking technically at the quotations of PALLADIUM on the D1 interval, we see an acceleration of the downward movement. If the current sentiment does not change, an act on support at the $1830 level, which stems from the lows of mid-June this year, is not out of the question. On the other hand, should there be a rebound, the key resistance to consider is the zone at the round level of $2000. Only an exit of the price above, could change the balance of power to an upward one.
PALLADIUM D1 interval. Source: xStation 5
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