After three days of declines, Palladium is up $9.6 today

After closing the previous trading day at $1,407.4, the Palladium future is up to $1,417 per troy ounce, which makes for a move of 0.68%/$9.6 today.

United States Fed Chair Powell testimony is next today at 15:00 UTC.

At the same time, United States Factory Orders released yesterday at 15:00 UTC is better than expected at -1.6% but down from preceding data of 1.7% according to new data.

Palladium's lower Bollinger Band® is at $1,381, indicating that the market is oversold and fertile for new buyers.

Overall, looking at the technical analysis landscape, it seems Palladium might continue pointing upwards in the short term.

While Palladium is appreciating, other Metals are comparatively not doing so well — Platinum closed at $966.6 (down 1.73%). Copper slides down 1.31% to trade around $4.04. Gold is trading around $1,846 (down $8.6).

Also worthy of note, United States Crude Oil Inventories projected to come out at -308,000 — worse than previous data of 1.17 million; data will be released tomorrow at 15:30 UTC.

Furthermore, the market is looking at United States ADP Nonfarm Employment Change (Feb) is scheduled for tomorrow at 13:15 UTC. United States JOLTs Job Openings (Jan) will be released tomorrow at 15:00 UTC.

The commodity has been trending lower for about 2 months. So far this year, Palladium has declined 20.4% while touching highs around $3,149 earlier this year.