Palladium Futures (PA1!) H4 | Approaching Pullback Resistance

Type:

Bearish Reversal

Key Levels:

Resistance: 1,046.00

Pivot: 1,021.50

Support: 966.50

Preferred Case:

Looking at the H4 chart, my overall bias for palladium futures (PA1!) is bearish due to the price trading under a descending trendline and the bearish Ichimoku Cloud. The price could rise toward the Pivot before reversing to fall towards the 1st Support at 966.50.

Alternative Scenario:

Price may break above the Pivot at 1,021.50 and rise towards the 1st Resistance at 1,046.00.