Palladium Wave Analysis – 20 September, 2019

• Palladium broke round resistance level 1600.00
• Likely to rise to 1660.00

Palladium recently broke above the strong round resistance level 1600.00 (which stopped the previous sharp upward impulse wave 1 in the middle of July).

The breakout of the resistance level 1600.00 accelerated the active impulse wave  3 and (iii) – which belong to the intermediate impulse wave (C) from May.

Palladium is expected to rise further and retest the next resistance level 1660.00. The price needs to break the daily up channel from August to reach this resistance level.