Artem Voloskovets
⬤Palladium (XPD) dropped roughly 1.5% and is now stuck in a tight range between $1,600 and $1,670 — a confluence zone where a rising trend line meets horizontal support. Price is carving out a bear flag right on top of that level. The lack of a real bounce here is the telling part: instead of pushing higher, XPD is just compressing, which points to fading momentum even at a historically meaningful support area.
⬤The $1,600–$1,670 zone is holding for now, but every day price spends chopping sideways without a clean rebound raises the odds of a break lower. This kind of slow bleed at support is often more dangerous than a sharp drop — similar pressure played out during the move covered in Palladium Slides Toward Second-Biggest Loss in 45 Years.
⬤If the support cluster breaks down, $1,350 becomes the next logical target — a drop of roughly 15% from current levels. That kind of sharp, accelerated selling has happened before, as seen in Palladium Crashes Over 10% in Biggest Drop Since 2022. On the flip side, the market does have a track record of snapping back hard from oversold conditions near major levels, a dynamic explored in Price of Palladium Bounces Hard at 50 EMA — Hammer Signal After Sharp Drop.
⬤How Palladium resolves this consolidation matters beyond just the chart. A clean breakdown below $1,600 would likely drag sentiment across industrial and precious metals, while a decisive bounce could open the door back toward $2,000 resistance. Either way, this support cluster is the line in the sand — and the market looks close to making a decision.
Artem Voloskovets
