Palladium Wave Analysis – 28 May, 2021

• Palladium reversed from support area

• Likely to rise to resistance level 2900.00

Palladium recently reversed up from the support area located between the key support level 2730.00 (former strong resistance from March), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from January.

The upward reversal from this support area started the active short-term corrective wave (b).

Given the strong uptrend – Palladium can then be expected to rise further toward the next resistance level 2900.00 (target price for the completion of the active corrective wave (b)).