Palladium Wave Analysis – 10 February, 2020

• Palladium reversed from support area
• Likely to rise to 2400.00

Palladium recently reversed up from the support zone located between the key level 2155.00 (low of the previous short-term correction 4), lower daily Bollinger Band and the 38.2% Fibonacci correction of the pervious upward impulse 3 from December.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer.

Palladium is likely to rise further toward the next resistance level 2400.00 (top of the pervious impulse waves 3 and (i)).