Categories: Technical analysis

Palladium Wave Analysis – 07 November, 2019

  • Palladium reversed from support zone
  • Likely to rise to 1800.00

Palladium recently reversed up from support zone lying between the key support level 1750.00 (former resistance from October), lower daily Bollinger Band and the 38,2% Fibonacci correction of the previous upward impulse from last month.

The upward reversal from this support area started the active impulse wave (v) – which belongs to wave C from August.

Palladium is expected to rise further and retest the next round resistance level – 1800.00 (top of the earlier impulse wave (iii)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: PDUUSD

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