I recall that some years back platinum priced itself out of catalytic converters, and palladium crept in to replace it. Looks like a mirror reversal is now going to occur.
Speaking of which, I cannot reverse the dates and overlay on your palladium chart of 5 years ago, but their respective prices would almost be the same if I could.
If I were a betting man then I think a reasonable punt would be for both metals to consolidate under and around $1000.
(By the way, from what I have gathered it has been the rush to clean up vehicle emissions that put palladium into backwardation. That will unwind as the year stretches out.)