Palladium Wave Analysis – 15 October, 2019

Palladium broke resistance area
Likely to rise to 1725.00

Palladium continues to rise after the earlier breakout of the resistance area lying between the resistance levels 1650.00 and 1675.0.

The breakout of this resistance area accelerated the active impulse wave 3 – which is a part of the upward impulse sequence (C) from May.

Given the strength of the uptrend visible on the daily charts – Palladium is expected to rise further and retest the next resistance level 1725.00 (target for completion of wave 3).

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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Tags: PDUUSD

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