Palladium Wave Analysis – 10 August, 2020

• Palladium reversed from key support level 2160.00

• Likely to rise to 2400.00

Palladium recently reversed up from the pivotal support level 2160.00 (former monthly high from May) – standing near the 50% Fibonacci correction of the previous upward price impulse from June.

The upward reversal from the support level 2160.00 started the active short-term impulse wave (iii).

Palladium is likely to rise further toward the next resistance level 2400.00 (top of the previous waves (i) and (v) from the end of June).