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Palladium Wave Analysis – 18 April, 2019

  • Palladium reversed from support area
  • Further gains are likely

Palladium recently reversed up from the support area lying at the intersection of the round support level 1300.00 (which has been reversing the price from January) and the lower daily Bollinger Band.

The upward reversal from this support area created the daily Hammer which started the active short-term impulse wave B.

Palladium is expected to rise further and re-test the next round resistance level 1300.00 (target price for the completion of the active wave B).

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Source: FxPro


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