Palladium Wave Analysis – 25 August, 2022

• Palladium reversed from round support level 2000.00

• Likely to rise to resistance level 2300.00

Palladium recently reversed up from the round support level 2000.00 (which stopped the previous minor correction (iv) from the start of August).

The support area near the support level 2000.00 was strengthened by the lower daily Bollinger Band, support trendline of the daily up channel from June and the 61.8% Fibonacci correction of the upward impulse from the middle of July.

Palladium can be expected to rise further toward the next resistance level 2300.00 (top of the previous short-term impulse wave (i)).