Palladium Wave Analysis – 04 October , 2018

• Palladium reversed from support area • Further gains are likely

Palladium recently reversed up from the support zone located between the support level 1030.00, support trendline of the narrow daily up channel from August and the 38.2% Fibonacci correction of the upward impulse from September.

The upward reversal from this support started the active short-term impulse wave 3– which is a part of the medium-term impulse wave (3) from September.

Palladium is expected to rise further and re-test the next resistance level 1080.00 (top of the previous impulse wave 1 from last month).