Palladium: 1D Chart Review
Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Palladium.
The chart is self-explanatory. Palladium Price has been moving up a Rising Channel recently but the overall trend looks like a Bearish Divergence. Since the RSI was recently supported by a support line, the price has the chance to keep moving higher, however if the price breaks down from the Rising channel, it may come down to the 0.618 Fibonacci Retracement level where the measured move is as well as that area being a strong Support and Resistance zone. If price moves up from the rising channel, expect it to be met with resistance at the multi-year resistance line.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
The chart is self-explanatory. Palladium Price has been moving up a Rising Channel recently but the overall trend looks like a Bearish Divergence. Since the RSI was recently supported by a support line, the price has the chance to keep moving higher, however if the price breaks down from the Rising channel, it may come down to the 0.618 Fibonacci Retracement level where the measured move is as well as that area being a strong Support and Resistance zone. If price moves up from the rising channel, expect it to be met with resistance at the multi-year resistance line.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
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