Palladium Futures (PA1!) D1 | Approaching Ascending Trendline
Type:
Bullish Bounce
Key Levels:
Resistance: 1,072.00
Pivot: 1,010.00
Support: 979.00
Preferred Case:
Looking at the D1 chart, the price is falling towards a support zone that is identified by an ascending trendline and the Pivot where it could once again bounce towards the 1st Resistance at 1,072.00.
Alternative Scenario:
Price may break below the Pivot at 1,010.00 and fall towards the 1st Support at 979.00.
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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.