A quick look at today: Palladium ended yesterday at $1,397.3. today it went up to $1,426 only to drop back, yet still managed to close at $1,411 per troy ounce.

The Palladium future upside coincides with further encouraging market factors as United States Retail Sales beat the -0.1% projections, with 0.3%.

Nevertheless, United States Initial Jobless Claims fell short of the 250,000 projections, with new data of 262,000.

Meanwhile, United States Philadelphia Fed Manufacturing Index (Jun) released yesterday at 12:30 UTC with a figure of -13.7, while the previous figure was -10.4.

Concerning technical analysis and more specifically, trend indicators, Palladium made an initial breakout above its 21 day Simple Moving Average at $1,397.33, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $1,417.5 currently serving as resistance Analysis based on the asset volatility indicates that Palladium's upper Bollinger Band® is at $1,461.31, this is a slight indication of a slowdown. Support/Resistance levels obtained from chart analysis indicate that although the Palladium future is appreciating today after rising as high as $1,426, price action is now slowing and consolidating around $20.5 below the $1,431.5 resistance level.

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

Rallies can also be seen in other Metals, Silver is trading around $24.27 after ending today's session at $23.95 (up 1.35% today).

While the Palladium future is appreciating, other Metals are comparatively not doing so well — Copper is down to $3.88, losing 2.15 cents, after ending the previous session around $3.9. After ending today's session at $996.3, Platinum lost $3.7 and is trading around $992.6.

The commodity has been trending lower for about a month. Palladium hit a significant low of $1,313 around 5 days ago, but has since recovered 6.42%.