Palladium Wave Analysis 13 October, 2020

• Palladium reversed from resistance area

• Likely to fall to 2300.00

Palladium recently reversed down with the daily Dark Cloud Cover candlestick reversal pattern from the resistance area lying between the key resistance level 2450.00 (top of wave 1 from September) and the upper daily Bollinger band.

The downward reversal from this resistance area started the active short-term ABC correction (ii).

Palladium is likely to fall further toward the next support level 2300.00 (target price for the completion of the active wave (ii)).