(XPDUSD Daily Chart)
The uptrend that started in March, ended in May. After breaking, Palladium formed a bearish trend channel as expected and with the help of hawkish FED and China’s commodity crackdowns, the price fell to the 200-day moving average. Now Palladium is trying to get a bullish correction over the moving average. 2612, 2643, and 2685 are the possible key levels of a pullback. But in the short to medium-term, fundamentals turning bearish. If 200-day MA breaks, XPD may fall to below 2400 levels, possibly to %261.8 level of the original downtrend channel.