Technical analysis

Palladium Wave Analysis 3 February, 2021

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).

Article Rating