Title: Palladium Futures ( PA1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 2023.0
Pivot: 1945.0
Support: 1808.5
Preferred case: On the H4 chart, we have a bullish bias. To add confluence to this, price is above the Ichimoku cloud which indicates a bullish market. If this bullish momentum continues, expect price to possibly break the pivot at 1945.0, where the 50% Fibonacci line is before heading towards the resistance at 2023.0, where the 23.6% Fibonacci line is.
Alternative scenario: Price may possibly head back down towards the support line at 1808.5, where the 88% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Rise
Resistance: 2023.0
Pivot: 1945.0
Support: 1808.5
Preferred case: On the H4 chart, we have a bullish bias. To add confluence to this, price is above the Ichimoku cloud which indicates a bullish market. If this bullish momentum continues, expect price to possibly break the pivot at 1945.0, where the 50% Fibonacci line is before heading towards the resistance at 2023.0, where the 23.6% Fibonacci line is.
Alternative scenario: Price may possibly head back down towards the support line at 1808.5, where the 88% 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