(MENAFN- FxPro)
- Palladium broke resistance area
- Further gains are likely
Palladium recently broke through the resistance area lying between the resistance level 1270.00 (upward target set in our previous forecast for this instrument) and the resistance trendline of the daily up channel from August.
The breakout of this resistance area accelerated the active short-term impulse wave 5 – which belongs to the medium-term impulse sequence (3) from October.
Palladium is expected to rise further and re-test the next resistance levels 1300.00 and 1350.00 (target price for the completion of the active impulse wave (3)).
Source: FxPro
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