Palladium Price Forecast Today: Why $1677 May Have Marked the Daily Low

Palladium futures showed chaotic price action, but the underlying order flow tells a clearer story. Today's move appeared as a forced unwind that transitioned into stabilization, with $1677 possibly marking the day's low. This level acted as a repair point where sellers' momentum faded and buyers began to absorb sell pressure. Price initially gapped up at the weekly open before sharply dropping to $1677 following a 21% sell-off. This behavior suggests triggered stops and thin liquidity. The recovery observed after hitting $1677 was not random; it demonstrated improving buy-side participation. The area around $1677 indicates a credible candidate for the day's low, as it showed exhaustion characteristics and led to more balanced trading activity afterward. Maintaining price above $1700 will be critical for recovery continuation, making it a key level for traders to monitor moving forward.