Is it the end of Palladium's rally? After three days of gains, it is down by 0.58% today

Trading lower, Palladium is currently down $8.6 as it ranges between $1,475.5 and $1,523 so far today.

United States's Retail Sales new data released of -1% below its previous figure.

Core Retail Sales in United States fell short of market expectations (-0.3%) with a reading of -0.8%, continuing the decline from the previous figure of 0%. United States Retail Sales published today at 12:30 UTC came out at -1%, falling short of the -0.4% projections and continuing its decline from the previous -0.2% figure. Following a previous reading of 0%, Producer Price Index in United States released yesterday at 12:30 UTC fell short of the 0.1% figure expected by analysts with an actual reading of -0.5%.

Palladium made an initial break below its 50 day Simple Moving Average at $1,487.77, a possible indication of a forthcoming negative trend. Palladium is currently flirting with an active Fibonacci support level around $1,489.29. The Palladium future's upper Bollinger Band® is at $1,524.22 which indicates a further downward move may follow. Despite this, CME Palladium could begin to recover as it approaches significant support, now $26.83 away from $1,460.17. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for CME Palladium.

Taking a look at other Metals commodities, negative performances are evident as after ending yesterday's session at $2,055.3, Gold lost $20.3 and is trading around $2,035. Platinum goes down 0.84% to trade around $1,056.6.

Positive performances can be seen by looking at other Metals markets as Copper added 1.08% to its value, now trading at $4.17.

The commodity has been trending positively for about a month. The Palladium future hit a significant low of $1,346.4 around a month ago, but has since recovered 11.08%.