CME Palladium continues a 3 day uptrend, gaining a total of 3.51%. Consistent for now — after closing the previous trading day at $1,456, the Palladium future is up to $1,460.5 per troy ounce, which makes for a move of 0.32%/$4.5 today.

The Palladium future upside coincides with further encouraging market factors as United States Crude Oil Inventories beat analyst expectations of -583,000 and the previous reading of -3.74 million with new data of 597,000.

At the same time, United States Consumer Price Index came out at 0.1%, while a consensus of analysts was expecting 0.2%. United States Consumer Price Index released yesterday at 12:30 UTC with a figure of 5%, while the previous figure was 6%.

Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,510.54, thereby suggesting that Palladium is becoming overvalued. CME Palladium could be slowing down soon as it approaches resistance at $1,474.17. Of course, crossing it might suggest further gains are ahead.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates the Palladium future is set for a reversal in the coming days.

A look at other Metals also shows upside as Gold ascends 0.25% to trade around $2,030. Silver is up 0.62%.

Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released today at 12:30 UTC.

Furthermore, the market is looking at United States Core Retail Sales projected to come out at -0.3% — worse than previous data of -0.1%; data will be released tomorrow at 12:30 UTC. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 232,000, following on from the preceding figure of 228,000. New data is set to be published today at 12:30 UTC.

The commodity has been trending positively for about a month. The Palladium future has shed 31.41% over the past six months.