Palladium Wave Analysis – 15 July, 2022

• Palladium under bearish pressure

• Likely to fall to support level 1765.00

Palladium under the bearish pressure after the price broke the support level 1900.00 intersecting with the support trendline of the daily up channel from the middle of June.

The breakout of this up channel accelerated the active minor impulse wave 3 from the start of July.

Given the strong daily downtrend, Palladium can be expected to fall further toward the next support level 1765.00 (former strong support from June, target for the completion of the active wave 2).