Elliott Wave Analysis: Palladium In A Three-Wave Correction

 | Jun 11, 2019 11:06AM ET

Hello traders,

Palladium can be trading in a three-wave A-B-C bearish reversal, down from 1578 high, and currently unfolding a three-wave contra-trend reaction to the previous five-wave fall, within wave A. We are observing a three-wave a-b-c pullback, with price trading at the start of wave c, that can take price towards the 1460/1500 area in upcoming sessions, where former swing high, and the Fibonacci ratios of 0.618/0.786 can react as reversal zones.