Palladium Wave Analysis 11 November, 2020
November 11, 2020 @ 18:49 +03:00
• Palladium under downward pressure
• Likely to fall to 2250.00
Palladium under immense downward pressure after the earlier downward reversal from the resistance level 2500.00 (former monthly high from the start of October) – strengthened by the upper daily Bollinger Band.
The downward reversal from the resistance level 2500.00 created the daily Japanese candlesticks reversal pattern Long-Legged Doji.
Palladium is likely to fall further toward the next support level 2250.00 (target price for the completion of the active shot-term correction (ii)).