Palladium Wave Analysis – 15 December, 2021

• Palladium broke round support level 1700.0

• Likely to test support level 1500.00

Palladium continues to fall after the price broke through the round support level 1700.0 (low of the previous short-term impulse wave 1 from the end of last month).

The breakout of the support level 1700.0 accelerated the active short-term impulse wave 3 – which started earlier from the key resistance level 1850.00 (previous monthly low from September and October).

Palladium can be expected to fall further toward the next round support level 1500.00 (target price for the completion of the active short-term impulse wave 3).