• Palladium reversed from key resistance level 2425.00
• Likely to fall to 2236.00

Palladium recently reversed down from the key resistance level 2425.00 (which has been steadily reversing the price from the end of July as can be seen from the daily Palladium chart below) – strengthened by the upper daily Bollinger Band. The downard reversal from the resistance level 2425.00 stopped the previous short-term corrective wave 2 from the middle of November.

Given the strengthening risk-off sentiment see across the commodity markets today – Palladium is expected to fall further toward the next strong support level 2236.00 (which reversed the price sharply at the start of December as can be seen from the daily Palladium chart below).