Palladium Wave Analysis – 07 November, 2019
November 07, 2019 @ 17:07 UTC
- 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)).