Palladium Futures (PA1!) H1 | Potential Bearish Breakout

Type:

Bearish Breakout

Key Levels:

Resistance: 1,088.00

Pivot: 1,075.00

Support: 1,057.50

Preferred Case:

Looking at the H1 chart, the price has broken through an ascending trendline and the bearish momentum is picking up. It could break below the pivot and drop towards the 1st Support at 1,057.50 to extend the downtrend.

Alternative Scenario:

Price may reverse off the Pivot at 1,075.00 and rise towards the 1st Resistance at 1,088.00.