⬤ Palladium stayed strong in the latest session, keeping its bullish technical structure alive. The metal printed another small hammer candle while holding ascending support inside a rising broadening wedge. This price action shows consistent buying interest on every dip, with no signs of a structural breakdown on the daily chart. Lower-wick rejections near support levels keep appearing, showing demand stepping in whenever prices pull back.
⬤ The chart shows palladium respecting its ascending trendline while staying above key moving averages, confirming that buyers continue defending higher lows. Sellers have tried pushing prices lower multiple times but haven't gotten any follow-through, keeping the overall trend constructive. Each attempt to break support has been quickly rejected, maintaining the bullish framework.
The metal printed another small hammer candle while holding ascending support inside a broader rising broadening wedge.
⬤ From a market psychology angle, bulls are clearly in control. Every pullback toward support has brought fresh buying interest, preventing any real downside momentum from developing. The rising broadening wedge pattern reflects expanding price action rather than distribution, with the price continuing to move higher within defined boundaries.
⬤ This technical stability matters for the broader precious metals market because it shows how sustained demand can support price trends even during consolidation. Palladium's ability to repeatedly hold ascending support and reject lower prices signals confidence in the current structure. As long as price keeps respecting this support and the pattern stays intact, momentum remains tilted to the upside with no confirmed bearish signals appearing.
