Palladium is growing its seven-day winning streak by closing at $1,411, gaining $13.7.

Friday at a glance: Palladium ended Thursday at $1,397.3. Friday it went up to $1,426 only to drop back, yet still managed to close at $1,411 per troy ounce.

Technical analysis of CME Palladium's past price action reveals multiple support and resistance levels: although Palladium 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. Technical analysis trend indicators suggest that CME 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 Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,461.31, thereby suggesting that the Palladium future is becoming overvalued.

Notwithstanding Palladium's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

This rally in Palladium's price coincides with other Metals as Silver climbs 1.35% Friday and closed at $23.95.

While the Palladium future is appreciating, other Metals are comparatively not doing so well — Copper lost 0.55% Friday and closed at $3.9. After ending Friday'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. 7 days ago, CME Palladium fell to a low of $1,313 but has since recovered 6.42%.