Palladium Price Tests $1,350 Resistance After a Strong July Market Recovery
Buyers pushed palladium back up from June lows to trade near $1,300. There was a big gap in the day's trading, with demand returning near the session bottom.
The metal bounced back from the afternoon slide, though, to close higher than it did last night. Technicals turned up, but significant resistance continues to cap upside.
The monthly time frame is in bull market mode, though the one-year chart is still in bear market mode. The next clear signal is being awaited in the $1,330-$1,350 area by traders.
Intraday Chart Shows Recovery From Lower Support
After an erratic day, palladium was trading at around $1,289 on TradingView. Sellers seemed to snub the attempt as the price rallied to over $1,298 in midday trading. The following doldrums sped up, bringing the metal closer to $1,275. Purchasers reacted near that level and nudged the price up past the previous close.
According to the chart data, this movement brings a near $1,284 into immediate consideration and a stronger area of $1,275 into consideration.
If the price moves below there, then lower support could be in play at $1,268. The main intraday support is about $1,281; the main intraday resistance is around $1,292. Unless sustained above that level, it is not good enough for the structure of the short term.
One-Year Chart Keeps Broader Downtrend in View
Palladium was at $1,308.07 after posting a daily gain of $2.51, according to Trading Economics. The 1-year chart shows a bull market move from late 2025 to early 2026. A correction was triggered by sellers, and it extended into a significant move to $2,200.
This drop resulted in lower maximum temperatures in February, March, and May. June was yet another step toward the $1,180-$1,200 range. The gradual recovery to $1,300 occurred in July.
Nevertheless, the metal is still in the lower part of the primary $1,350-$1,400 resistance area.
The current support level ranges from $1,250 to $1,280, and the yearly floor is at approximately $1,200. The pattern of lower highs will be broken with a close above $1400. If the bull market doesn’t get to that point, palladium will likely stay in the overall corrective move.
Technical Indicators Support the July Rebound
TradingView’s daily technical chart had XPDUSDT’s price around $1,310. Since the June bottom, Price has made a couple of higher lows. That structure reflects greater demand, but the ongoing recovery is still in demand for supply in the $1,330-$1,350 range.
The MACD line has come out of the negative and is pointing above the signal line, while the histogram is now in the positive zone. That is an indication that bearish momentum has eased. But price must find better closes above resistance for confirmation of a wider reversal.
The Relative Strength Index (RSI) is close to 58.23 and is still above the average of 51.50. RSI has risen above 50, remaining in the uncharted territory of overbought. That means that there is still potential for additional rises if buyers resume buying.
Recent rebounds and declines have been reflected in increasing volume, with active participation around current levels. Nevertheless, the current reading doesn’t show a clear breakthrough. A daily close above $1,350 could open the way toward $1,400 and then $1,480. If the $1,270 level is breached, the recovery will be impacted, and the June low will again be on the radar.
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