Palladium Futures (PA1!) H4 | Bearish pressure targeting key support
Palladium Futures (PA1!) H4 | Bearish pressure targeting key support
Type:
Bearish Continuation
Key Levels:
Resistance: 1,359.0
Pivot: 1,317.0
Support: 1,255.0
Preferred Case:
On the H4 chart, the price shows signs of continued bearish momentum. A move lower toward the 1st Support at 1,255.0 is favored, especially if the price remains below the Pivot at 1,317.0.
Alternative Scenario:
If price rebounds and breaks above the Pivot at 1,317.0, there is potential for a rally toward the 1st Resistance at 1,359.0.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.