Palladium Wave Analysis – 17 July, 2020

• Palladium broke daily Triangle

• Likely to reach 2163.50

Palladium has been rising in the last few trading sessions after the price broke the resistance trendline of the daily Triangle from the middle of April.

The breakout of this daily Triangle accelerated the active medium-term upward impulse sequence (3) from the start of May.

Palladium is likely to rise further toward the next resistance level 2163.50 (monthly high from May) – followed by 2260.00.