Genesiv

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

Short
NYMEX:PA1!   Palladium Futures
Type : Bearish Reversal
Resistance: 2461.5
Pivot: 2396.0
Support : 2303.0
Preferred case: We see the potential for a bearish dip from our pivot at 2396.0 in line with 78.6% Fibonacci projection towards our 1st support at 2303.0 in line with 61.8% Fibonacci retracement , 100% Fibonacci projection and 161.8% Fibonacci extension . Our bearish bias is supported by price trading under Ichimoku cloud indicator.

Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance at 2461.5 in line with 61.8% Fibonacci retracement .

Fundamentals: No major news
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.