Palladium Futures (PA1!) | H4 Potential Bullish Breakout
Type:
Bullish Breakout
Key Levels:
Resistance: 1,052.00
Pivot: 1,006.00
Support: 967.00
Preferred Case:
Looking at the H4 chart, my overall bias for Palladium futures (PA1!) is bullish due to the presence of a bullish Ichimoku cloud. With the price rising towards the descending trendline, it could potentially break through this trendline to rise higher toward the 1st resistance.
Alternative Scenario:
Price may reverse off the pivot at 1,006.00 and fall towards the 1st support level at 967.00.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.