Palladium Wave Analysis – 22 October , 2018

• Palladium broke key resistance level 1085.00
• Further gains are likely

Palladium continues to rise inside the short-term impulse wave 3, which broke earlier through the key resistance level 1085.00 (which stopped the previous impulse waves (3) and 1 – as can be seen below).

The breakout of the resistance level 1085.00 should accelerate the active short-term impulse wave 3 – which belongs to the medium-term impulse weave (5) from the middle of August.

Palladium is expected to rise further and re-test the next multi-month resistance level 1130.00 (which stopped the sharp uptrend at the start of this year).