Palladium seems to have found support below. The metal us used in many commercial settings therefore has real world value.

Technicals

Palladium peaked at levels of around $3420 back in early March and looked to have found support at the $2060 region (green section). The metal had channelled around this region back in November, with the area also acting as resistance before breaking through in late January. This time around, the commodity bounced twice off of this $2060 area before falling to the $1850 region (red section). Encouragingly, palladium bounced back off of its $1860 levels and has been channelling around the $2000 mark for a couple of weeks. Investors will be able to find similarities from the metal’s similar channelling behaviour in the first two weeks of 2022, and will hope for a challenge in the coming weeks to the $2060 resistance, with a potential breakthrough back up to $2300, $2500, and beyond.