Automatic wave scan: as of 19 Oct 2026, the automatic daily count for Palladium is Wave 5 down with a bearish bias. The count stays valid while price holds 1,426.
Current Palladium wave count
Automatic wave scan Updated daily from the latest daily close (19 Oct 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave decline that began at 1,378 on 7 Aug 2026. Next levels to watch are 1,118 and 1,004. The count fails on a daily close above 1,426.
Key levels
| Type | Levels |
|---|---|
| Resistance | 1 · 426 · 1 · 317 |
| Support | 1 · 112 · 1 · 082 |
| Invalidation | 1,426 |
What is Palladium?
Palladium futures trade on NYMEX in US dollars per troy ounce. Russia and South Africa are the two largest producers, according to the US Geological Survey.
More than 80 percent of palladium demand comes from catalytic converters in petrol cars. The growth of fully electric cars, which need no catalysts, is a long term risk to demand.
What moves the Palladium price?
- Car production: Petrol and hybrid car output drives demand.
- Russian supply: Sanctions or export issues affect a large share of supply.
- Electric vehicles: More battery electric cars mean less catalyst demand.
- Substitution: Carmakers can swap palladium for platinum when prices differ widely.
- Low liquidity: The small market can cause sharp moves.
How Palladium moves in Elliott Wave terms
Palladium's rally from 2016 to 2022 was a long, extended impulse, and the decline that followed was steep. Its small market produces sharp waves and frequent spikes.
Use the weekly chart for structure and expect large swings.
Tips for counting Palladium waves
Trade small, use wide stops and check car production data.
Palladium key facts
Palladium Elliott Wave FAQ
What is palladium used for?
Mostly in catalytic converters for petrol and hybrid cars, plus electronics, dentistry and chemicals.
Why did palladium fall after 2022?
Demand concerns grew as electric car sales rose and carmakers used more platinum instead.
Who produces the most palladium?
Russia and South Africa produce most of the world's supply.
Sources and further reading
- Mineral Commodity Summaries (U.S. Geological Survey)
- Palladium futures contract specs (CME Group)
- Palladium (Wikipedia)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
