Palladium Wave Analysis – 9 July, 2019

• Palladium reversed from resistance area
• Further losses are likely

Palladium recently reversed down from the resistance area lying between the strong resistance level 1570.00 (which stopped the sharp uptrend in March) and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active short-term corrective wave (ii).

Palladium is expected to fall further and retest the next support level 1509.00 (former support from the end of June).