Palladium Wave Analysis – 15 November , 2018

• Palladium approached resistance area
• Downward correction is likely

Palladium is currently trading close to the strong resistance area lying between the major, long-term resistance level 0.6750 (which stopped the previous sharp up trends in January and October) and the upper daily Bollinger Band.

The active impulse wave 3 belongs to the medium-term impulse wave (3) from the end of last month.

Given the strength of the aforementioned resistance area, Palladium is expected to correct down from the current levels and re-test the next support level 1080.00 (low of the previous short-term correction 2).