Palladium Wave Analysis 3 February, 2021

• Palladium reversed from support zone

• Likely to rise to 2650.00

Palladium continues to rise after the earlier upward reversal from the support zone located between the long-term support level 2185.00 and the lower daily Bollinger Band.

Support level 2185.00 is it itself the lower boundary of the multi-month sideways price range (upper boundary stands at the resistance level 2490.49) – inside which Palladium has been trading from September.

Palladium is expected to rise further toward the next resistance level 2650.00 (standing close to the middle of this price range).