Palladium Wave Analysis – 13 September, 2022

• Palladium reversed from resistance level 2270.00

• Likely to fall to support level 2000.00

Palladium recently reversed down from the key resistance level 2270.00 (which has been reversing the price from the end of April).

The resistance level 2270.00 was further strengthened by the nearby upper daily Bollinger Band and by the 38.2% Fibonacci correction of the ABC correction (2) from March.

Palladium can be expected to fall further toward the next round support level 2000.00 (which stopped the previous waves (iv), (a) and 2).