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Palladium Wave Analysis – 17 January, 2019

  • Palladium broke resistance area
  • Further gains are likely

Palladium today broke sharply through the resistance area lying between the resistance level 1350.00 (previous upward target) and the two resistance trendlines of the two daily up channels from last December and August.

The breakout of this resistance area accelerated the active short-term impulse wave 5 – which belongs to the medium-term impulse wave (5) from December.

Palladium is expected to rise further and re-test the next resistance level 1400.00 – the breakout of which can lead to further gains toward 1450.00.

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Source: FxPro


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