Categories: Technical analysis

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)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: PDUUSD

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