Palladium Futures (PA1!) H1 | Resistance at 50% Fibonacci Retracememt
Palladium Futures (PA1!) H1 | Resistance at 50% Fibonacci Retracememt
Type:
Bearish Reversal
Key Levels:
Resistance: 1,093.00
Pivot: 1,067.00
Support: 1,012.00
Preferred Case:
Looking at the H1 chart, my overall bias for palladium futures ( PA1!) is bearish due to the price trading below a descending trendline. The price could rise towards the Pivot and make a bearish reversal to fall towards the 1st Support at 1,012.00
Alternative Scenario:
Price may break above the Pivot at 1,067.00 and rise towards the 1st Resistance at 1,093.00