Palladium Futures (PA1!) H4 | Pullback Resistance at 61.8% Fibonacci Retracement
Palladium Futures (PA1!) H4 | Pullback Resistance at 61.8% Fibonacci Retracement
Type:
Bearish Reversal
Key Levels:
Resistance: 1,020.00
Pivot: 970.00
Support: 919.00
Preferred Case:
Looking at the H4 chart, the price has made a bearish reversal off the pivot and it could potentially fall towards the 1st Support at 919.00.
Alternative Scenario:
Price may break above the Pivot at 970.00 and rise towards the 1st Resistance at 1,020.00.
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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.