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

37731 palladium futures pa1 h1 potential for bearish momentum

Type: Bearish MomentumKey Levels:Resistance: 2418.5Pivot: 2377.0Support: 2305.0Preferred Case:We see the potential for a bearish continuation from our pivot level at 2377.0 along with horizontal overlap resistance towards our 1st support level at 2305.0 in line with 161.8% Fibonacci extension, 78.6% Fibonacci projection and -27.2% Fibonacci expansion.Alternative Scenario:Alternatively, price might break our pivot structure and head for 1st resistance level at 2418.5 in line with 78.6% Fibonacci projection.Fundamentals:No major news.

Source: Tickmill

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