Palladium Wave Analysis – 01 August, 2019

• Palladium broke round support level 1500.00
• Further losses are likely

Palladium recently broke below the round support level 1500.00 – which reversed the price multiple times in July.

The breakout of the support level 1500.00 accelerated the active short-term impulse wave c – which started earlier from the powerful multi-month resistance level 1575.00.

Palladium is expected to fall further and retest the next round support level 1450.00 (former strong resistance from April and the target price for the completion of the active short-term impulse wave (i))