Categories: Technical analysis

Palladium Wave Analysis – 26 September, 2019

  • Palladium reversed from support area
  • Likely to rise to 1645.00

Palladium recently reversed up from the support area lying between the round support level 1.600 (former multi-month resistance level which stopped the sharp uptrend in June) and the 38.2% Fibonacci correction of the previous upward impulse from September.

The upward reversal from this support area continues the active short-term impulse wave 3 of the medium-term upward impulse sequence (C) from May.

Palladium is expected to rise further and retest the next resistance level 1645.00 (which reversed the price earlier this month).

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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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The FxPro Tech Analysis Team
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