Palladium Wave Analysis – 19 August, 2019

• Palladium reversed from support area
• Further gains are likely

Palladium recently reversed up from the support area located between the support level 1390.00 (former resistance May), lower daily Bollinger Band, support trendline from November and the 61.8% Fibonacci correction of the previous upward impulse 1 from May.

The upward reversal from this support area started eth active short-term impulse wave 3.

Palladium is expected to rise further and retest the next round resistance level 1500.00 (former support from July).