Palladium Wave Analysis – 07 November, 2019

• Palladium reversed from support zone
• Likely to rise to 1800.00

Palladium recently reversed up from support zone lying between the key support level 1750.00 (former resistance from October), lower daily Bollinger Band and the 38,2% Fibonacci correction of the previous upward impulse from last month.

The upward reversal from this support area started the active impulse wave (v) – which belongs to wave C from August.

Palladium is expected to rise further and retest the next round resistance level – 1800.00 (top of the earlier impulse wave (iii)).