Palladium Wave Analysis (05.12)

• Palladium broke key resistance level 1160.00 • Further gains are likely

Palladium continues to rise after the earlier breakout of the key resistance level 1160.00 (which stopped the previous short-term impulse wave (i) and which was set as the likely target in our earlier forecast for this instrument).

The breakout of the resistance level 1160.00 accelerated the active short–term impulse wave 3 – which belongs to the medium impulse wave (3) from the end of October.

Palladium is expected to rise further and re-test the next resistance level 1220.00 (target price for the completion of the active impulse wave 3).