Palladium Wave Analysis – 17 March 2023

• Palladium reversed from resistance level 1515.40

• Likely to fall to support level 1350.00

Palladium recently reversed down from the pivotal resistance level 1515.40 (which has reversed the price multiple times from the middle of February).

The downward reversal from the resistance level 1515.40 started the active short-term downward impulse sequence (v).

Given the prevailing daily downtrend, Palladium can then be expected to fall further toward the next key support level 1350.00 (target for the completion of the active impulse wave (v)).