Is it the end of Palladium's rally? After four days of gains, it is down by 1.27% today

Palladium is down to $1,498.5 per troy ounce, after ending yesterday at $1,517.7. Overall, a 1.27% loss or $19.2 today.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, CME Palladium's upper Bollinger Band® is at $1,520.4 which indicates a further downward move may follow.

Overall, while CME Palladium 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 after ending yesterday's session at $22.04, Silver lost 15.5 cents and is trading around $21.89. Platinum closed at $997.2 (down 0.41%).

Looking ahead, ongoing depreciation may be prolonged as projections for United States Retail Sales are set for a continuation of decline with -0.3% while previous data was 3%; data will be released today at 12:30 UTC. United States Core Retail Sales projected to decline to -0.1% while previous data was 2.3%; data will be released today at 12:30 UTC. Today at 12:30 UTC data for United States Producer Price Index will be released, with an expected decline to 0.3% from the preceding figure of 0.7%.

CME Palladium hit a significant low of $1,346.4 around 7 days ago, but has since recovered 12.72%.