Palladium Wave Analysis – 11 December , 2018

• Palladium reversed from support level 1140.00
• Further gains are likely

Palladium recently reversed up from the support level 1140.00 – strengthened by the support trendline of the daily up channel from August and by the 50% Fibonacci correction of the previous impulse wave (i).

The upward reversal from the support level 1140.00 started the active short–term impulse wave (iii) – which is a part of the medium-term impulse wave (3) from the end of October.

Palladium is expected to rise further and re-test the next round resistance level 1200.00 (which reversed the previous impulse wave (i)).