• Palladium broke key resistance level 970.00
• Further gains are likely
Palladium recently broke above the key resistance level 970.00 (which has reversed the price multiple times from the end of August, as can be seen below).
The breakout of the resistance level 970.00 is following the earlier breakout of the resistance zone lying at the intersection of the daily down channel from January and the 100-day moving average.
Palladium is expected to rise further in the active medium-term impulse wave (3) and retest the next round resistance level 1000.00.