Categories: Technical analysis

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).

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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