After closing the previous trading day at $1,777.3, CME Palladium is up to $1,791.5 per troy ounce, which makes for a move of 0.8%/$14.2 today.
United States Crude Oil Inventories data will be released today at 15:30 UTC, with an expected decline to -2.24 million.
Meanwhile, United States API Weekly Crude Oil Stock came out at 14.87 million, while a consensus of analysts was expecting -2.38 million. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.977, while the previous figure was 4.093.
Palladium's upper Bollinger Band® is at $1,878.65, this is a slight indication of a slowdown.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest the Palladium future is set for a reversal in the coming days.
This rally in CME Palladium's price coincides with other Metals as Platinum added 1.89% to its value, now trading at $1,097. Silver moves up 1.44% to trade around $24. Gold gained 0.48% and is currently trading at $1,885.5.
Also worthy of note, as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of -2.24 million, following on from the preceding figure of 1.69 million. New data is set to be published today at 15:30 UTC.
Elsewhere, United States Core Consumer Prices is expected tomorrow at 13:30 UTC. United States Consumer Price Index is expected tomorrow at 13:30 UTC.
The Palladium future hit a significant low of $1,642.5 around 23 days ago, but has since recovered 8.21%.