Palladium Wave Analysis 11 November, 2020

• Palladium under downward pressure

• Likely to fall to 2250.00

Palladium under immense downward pressure after the earlier downward reversal from the resistance level 2500.00 (former monthly high from the start of October) – strengthened by the upper daily Bollinger Band.

The downward reversal from the resistance level 2500.00 created the daily Japanese candlesticks reversal pattern Long-Legged Doji.

Palladium is likely to fall further toward the next support level 2250.00 (target price for the completion of the active shot-term correction (ii)).