Palladium Futures ( PA1! ), H1 Potential for Bearish Dip

palladium-futures-(-pa1!-),-h1-potential-for-bearish-dip

Type: Bearish DipKey Levels:Resistance: 2344.5Pivot: 2298.0Support: 2165.5Preferred Case:We see the potential for a dip from our pivot at 2298.0 in line with 78.6% Fibonacci retracement towards our 1st support at 2165.5 in line with 78.6% Fibonacci Projection and 61.8% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator where price is at resistance level.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at 2344.5 in line with 61.8% Fibonacci projection.Fundamentals:No major news

Source: Tickmill

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