Palladium is already falling sharply. Strategists at Credit Suisse expect XPD/USD to plummet towards the 50% retracement of the 2015/2021 bull trend at $1,432.

Palladium already holds a major top

“Palladium already holds a major top from earlier this year below $2,203, with support from the long-term uptrend from 2015 and 200-week average also broken.”

“We maintain our core bearish outlook and look for further weakness to the $1,495 2020 low next, then the 50% retracement of the 2015/2021 bull trend at $1,432.”