Palladium PALL technical analysis

PALL trades at $1,397.7, with a flat 24-hour change, while the daily RSI of 62 and a 4-hour RSI of 71 indicate strong upward momentum despite the mixed longer-term trend defined by the SMA20 above the SMA50 but below the SMA200.

Price currently sits inside the tight 4-hour support zone of 1,392.89-1,397.11, tested twice, directly beneath the 4-hour resistance at 1,404.89-1,409.11, which has three touches. This battle is immediate, with heavier 4-hour support at 1,335-1,385 from 13 touches below and the falling resistance trendline near 1,430.94 adding pressure overhead.

Bulls need a decisive break above 1,404.89-1,409.11 to challenge 1,423.89-1,428.11 and 1,437-1,443. Bears must defend that resistance and push price back under 1,399.89-1,404.11 to target the established 1,335-1,385 area.