Palladium is range-bound between $1,357 and $1,393 today after shedding $23.2 and closing at $1,402.2 yesterday.

United States Initial Jobless Claims is next today at 12:30 UTC.

Highly important Producer Price Index data from United States beat analyst expectations of -0.1% with a reading of -0.3%.

Nonetheless, encouraging indicators for Palladium published earlier when United States Crude Oil Inventories beat analyst expectations of 1.48 million and the previous reading of -451,000 with new data of 7.92 million.

Meanwhile, United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25.

Trend and momentum analysis indicates that Palladium made an initial break below its 10 day Simple Moving Average at $1,373.7, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that CME Palladium's lower Bollinger Band® is at $1,317, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Visual analysis of CME Palladium's chart shows that Palladium could begin to recover as it approaches significant support, now $26.67 away from $1,352.33. Dipping below could be an indication that further losses are ahead.

Overall, while the Palladium future has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Taking a look at other Metals commodities, negative performances are evident as Silver closed at $23.5 (down 2.53%). Gold is down to $1,946.4, losing $22.6, after closing at $1,969 in the preceding trading session.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as today at 12:30 UTC data for United States Retail Sales will be released, with an expected decline to -0.1% from the preceding figure of 0.4%. United States Core Retail Sales expected to decline to 0.1% while its preceding data was 0.4%, data will be available today at 12:30 UTC.

Furthermore, United States Philadelphia Fed Manufacturing Index (Jun) scheduled to come out today at 12:30 UTC.

The commodity has been trending lower for about a month. The Palladium future hit a significant low of $1,313 around 4 days ago, but has since recovered 6.79%.