Palladium Wave Analysis – 17 September, 2020

• Palladium reversed from resistance zone

• Likely to fall to 2265.00

Palladium recently reversed down from the resistance zone located between the resistance level 2400.00 (which formed the top of the previous daily candlesticks reversal pattern Evening Star Doji from the end of July) and the upper daily Bollinger Band.

If Palladium closes today near the active levels it will again form the daily reversal pattern Evening Star Doji – strong bearish signal.

Palladium is likely to fall further toward the next support level 2265.00 (low of the previous wave (ii) from the start of September).