Palladium Wave Analysis – 02 November , 2018

• Palladium reversed from support area
• Further gains are likely

Palladium recently reversed up sharply from the support area lying between the key support level 1060.00 (which has been reversing the pair from the start of October) and the 38.2% Fibonacci correction of the previous sharp impulse wave from September.

The upward reversal form the aforementioned support area created the daily Japanese candlesticks reversal pattern Morning Star – which marked the start of eth active impulse wave (3).

Palladium is expected to rise further and re-test the next resistance level 1130.00 (which stopped the previous 2 sharp uptrends in January and October).