Palladium Wave Analysis – 11 November, 2019
November 11, 2019 @ 17:05 UTC
- Palladium broke support zone
- Likely to fall to 1650,00
Palladium recently broke through the support zone lying between the round support level 1700.00 (low of the wave (b) from October), support trendline of the daily up channel from August and the 50% Fibonacci correction of the previous upward impulse (iii).
The breakout of this support zone accelerated the active impulse wave (c) from the start of November.
Palladium is expected to fall further and retest the next round level 1650.00 (target for the completion of the active ABC correction (ii)).