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Wave Tech Analysis

FxPro Forex Analysis: Palladium Wave Analysis – 20 August , 2018

• Palladium reversed from support zone
• Further gains are likely

Palladium recently reversed up sharply from the major support area located between the key support level 825.00, lower weekly Bollinger Band and the 61.8% Fibonacci correction of the previous weekly uptrend from the end of 2016.

The upward reversal from this support zone created the powerful Japanese candlesticks reversal pattern weekly Hammer.

Given the strength of the aforementioned support zone, Palladium is expected to rise further and retest the next resistance level 925.00.

PDUUSD2 - Primary Analysis - Aug-20 1831 PM (1 week)