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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