Palladium recently reversed up from the support level 1140.00 – strengthened by the support trendline of the daily up channel from August and by the 50% Fibonacci correction of the previous impulse wave (i).
The upward reversal from the support level 1140.00 started the active short–term impulse wave (iii) – which is a part of the medium-term impulse wave (3) from the end of October.
Palladium is expected to rise further and re-test the next round resistance level 1200.00 (which reversed the previous impulse wave (i)).
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