Palladium Wave Analysis 10 May, 2021

• Palladium reversed from support area

• Likely to rise to resistance level 3100.00

Palladium recently reversed up sharply from the support area lying between the support level 2830.00 (former resistance from the middle of April) and the 38.2% Fibonacci correction of the upward impulse from the end of March.

The upward reversal from this support area started the active short-term impulse wave (v) – which belongs to the longer-term impulse wave 3.

Palladium is likely to rise further toward the next resistance level 3100.00 (target price for the completion of the active impulse wave 3).