Palladium Price Analysis: XPD/USD stays indecisive around $2,650 inside nearby triangle

• Palladium recovers early Asian losses inside a three-week-old symmetrical triangle.
• Thursday’s Doji, MACD conditions keep buyers hopeful, the key DMAs add to the trading filters.

Palladium (XPD/USD) remains sidelined, despite recently picking up bids to $2,645, ahead of Friday’s European session. In doing so, the precious metal remains inside a short-term symmetrical triangle.

It’s worth noting that the previous day’s Doji candlestick takes clues from gradually recovering MACD histograms to back the short-term buyers. Though, the triangle’s resistance near $2,670, will be a tough nut to crack.

If the XPD/USD bulls manage to conquer the triangle formation with the upside breakout, the following run-ups will aim for the 100-DMA level of $2,756. During the rise, the $2,700 threshold may offer an intermediate halt.

Meanwhile, pullback moves may initially attack the $2,625 support before the triangle’s lower line near $2,605.

Also acting as important levels for the palladium bears’ entries is the $2,600 round figure and 200-DMA surrounding $2,565.

Palladium: Daily chart

Trend: Sideways