Palladium Wave Analysis – 23 May, 2019

• Palladium rising inside intermediate impulse wave (3)
• Further gains are likely

Palladium continues to rise inside the intermediate impulse wave (3), which started earlier from the support area surrounding the key support level 1290.00.

This support area was strengthened by e lower daily Bollinger Band,  200-day moving average ad by the 38.2% Fibonacci correction of the previous upward impulse from August.

Palladium is expected to rise further and retest the next resistance level 1450.00 (target for the completion of the active impulse wave (3) and top of the earlier wave (B)).