Palladium Wave Analysis 20 October, 2020

• Palladium reversed from support area

• Likely to rise to 2450.00

Palladium recently reversed up from the support area lying between the key support level 2330.00 (former resistance from September) and the 50% Fibonacci correction of the upward impulse (i) from last month.

The active impulse wave (iii) belongs to the higher-level impulse waves 3 and (3) from July.

Palladium is likely to rise further toward the next resistance level 2450.00 (top of the precious impulse wave 1 from last month).