February 03, 2021 at 03:34PM
• Palladium reversed from support zone
• Likely to rise to 2650.00
Palladium continues to rise after the earlier upward reversal from the support zone located between the long-term support level 2185.00 and the lower daily Bollinger Band.
Support level 2185.00 is it itself the lower boundary of the multi-month sideways price range (upper boundary stands at the resistance level 2490.49) – inside which Palladium has been trading from September.
Palladium is expected to rise further toward the next resistance level 2650.00 (standing close to the middle of this price range).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/palladium-wave-analysis-3-february-2021-20210203/
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