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PA1! (Palladium Futures) | H1 Bullish Bounce

36457 pa1 palladium futures h1 bullish bounce

Type: Bullish BounceKey Levels:Resistance: 2346.0Pivot: 2192.0Support: 2124.5Preferred Case: Price is near pivot level of 2192.0 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially rise up to the 1st resistance level at 2346.0, in line with 61.8% Fibonacci retracement and 127.2% Fibonacci extension. Our bullish bias is further supported by the stochastic indicator where it is at resistance level.Alternative Scenario:Price might continue to dip towards the 1st support level of 2124.5 in line 61.8% Fibonacci retracement and 78.6% Fibonacci retracement.Fundamentals:No Major News

Source: Tickmill

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