Palladium is down by 42%

Palladium is down by 42%

2020-03-16 • Updated

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

PalladiumDaily.png

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