Palladium Wave Analysis 29 October, 2020
October 29, 2020 @ 17:38 +03:00
• Palladium falling inside wave c
• Likely to reach 2185.00 and 2150.00
Palladium continues to fall inside the sharp impulse wave c, which started earlier from the resistance area lying between the resistance level 2450.00 (which has been reversing the price from September) and the upper daily Bollinger Band.
The price is currently approaching the key support level 2185.00 (low of wave (iv) from last month).
If palladium breaks below the support level 2185.00 the price is then likely to fall further toward the next strong support level 2150.00 (which reversed the price multiple times in August, target for the completion of wave 4).