Categories: Technical analysis

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).

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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