• Palladium reversed from the support zone
• Likely to rise to round resistance level 2000.00
Palladium recently reversed up from the support zone lying between the key support level 1834.00 (which stopped the sharp downtrend in the middle of September) and lower daily Bollinger Band. The upward reversal from this support zone stopped the previous corrective wave B.
Given the strength of the aforementioned support zone, oversold daily Stochastic and the improvement in risk sentiment as seen across the precious metal markets today, Palladium can be expected to rise further in the active wave C toward the next round resistance level 2000.00 (former support from the start of this month).
