⬤ Palladium is back in a technically significant spot. Long-term charts are showing a strong rebound after the metal broke below its super-long-term exponential trend back in 2022 — a level that had shaped palladium's price structure for decades. That break was a big deal. It flipped the market's behavior and triggered an extended stretch of weakness before this current recovery kick started.
⬤ Here's the thing — what's playing out on the multi-decade chart looks like a textbook V-shaped recovery. Palladium hit rock bottom, then bounced back hard and fast, clawing back a serious chunk of what it lost. The speed of this move is what stands out. It's nothing like the slow, drawn-out consolidation phases we've seen before in palladium's history. The metal has come roaring back and is now knocking on the door of a critical resistance area.
Once long-term structures shift, palladium tends to make sharp, momentum-driven moves — this is exactly that kind of setup.
⬤ That resistance sits right around $3,000 per ounce, and it's hard to miss on the chart. This zone is where sellers stepped in before, creating a thick wall of price congestion. If palladium can push through $3,000 and hold, that's a major technical signal — it would mean the market has digested all the supply dumped during the 2022 breakdown. But if it stalls here, the metal stays stuck in a wider consolidation range for now.
⬤ This setup matters beyond just palladium. The metal has a history of making big, fast moves once long-term chart patterns break and shift. A long base, a rapid bounce, and price now pressing into major resistance — palladium is sitting at a crossroads. The next move from here will likely dictate its direction for the medium to long term and set the mood across the broader precious and industrial metals space.
