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Palladium Wave Analysis – 19 November, 2019

  • Palladium reversed from support zone
  • Likely to rise to 1750.00

Palladium recently reversed up from the support zone lying between the support level 1650.00 (low of the earlier wave (ii), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward impulse from October.

The upward reversal from this support zone started the active medium-term impulse wave (3).

Palladium is expected to rise further toward the next resistance level 1750.00 (which reversed wave A of the previous correction (2)).

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