• Palladium broke the key resistance level 2200.00
• Likely to rise to resistance level 2500.00
Palladium continues to rise sharply after the price broke the key resistance level 2200.00 (which has been reversing the price from the start of October, as can be seen from the daily Palladium chart below) and the 50% Fibonacci correction of the sharp downward impulse from July. The breakout of the resistance level 2200.00 accelerated the active minor impulse wave 3 from the start of January.
Given the strength of the active upward impulse – Palladium can be expected to rise further toward the next resistance level 2500.00 (former support from June, likely price for the completion of the active impulse wave 3).