Palladium Wave Analysis – 15 November , 2018
November 15, 2018 @ 18:36 UTC
- Palladium approached resistance area
- Downward correction is likely
Palladium is currently trading close to the strong resistance area lying between the major, long-term resistance level 0.6750 (which stopped the previous sharp up trends in January and October) and the upper daily Bollinger Band.
The active impulse wave 3 belongs to the medium-term impulse wave (3) from the end of last month.
Given the strength of the aforementioned resistance area, Palladium is expected to correct down from the current levels and re-test the next support level 1080.00 (low of the previous short-term correction 2).