Title: Palladium Futures ( PA1! ), H4 Potential for Bearish Continuation
Type: Bearish Continuation
Resistance: 1830.5
Pivot: 1945.0
Support: 1759.5
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly head towards the support line at back down to the support line at 1759.5, where the previous swing low is.
Alternative scenario: Price may go back up and retest the 1st resistance at 1830.5, where the 78.6% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bearish Continuation
Resistance: 1830.5
Pivot: 1945.0
Support: 1759.5
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly head towards the support line at back down to the support line at 1759.5, where the previous swing low is.
Alternative scenario: Price may go back up and retest the 1st resistance at 1830.5, where the 78.6% Fibonacci line is.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results