Palladium Wave Analysis

• Palladium broke key resistance level 1200.0
• Further gains are likely

Palladium continues to rise after the earlier breakout of the key resistance level 1200.0 (which was set as the likely upward target in our previous forecast for this instrument).

The breakout of the resistance level 1200.strengthened the bullish pressure on this instrument – accelerating the active impulse waves 5 and (3).

Palladium is expected to rise further and re-test the next resistance level 1275.00 (intersecting with the resistance trendline of the sharp daily up channel from September).