Palladium Futures (PA1! ), H1 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 2418.5
Pivot: 2377.0
Support: 2305.0
Preferred 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, the price might break our pivot structure and head for 1st resistance level at 2418.5 in line with the 78.6% Fibonacci projection .
Fundamentals: No major news.
Resistance: 2418.5
Pivot: 2377.0
Support: 2305.0
Preferred 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, the price might break our pivot structure and head for 1st resistance level at 2418.5 in line with the 78.6% Fibonacci projection .
Fundamentals: No major news.