Palladium Wave Analysis

According to a technical wave analysis by FxPro, Palladium (XPDUSD) has demonstrated a bullish reversal after rebounding from a critical support zone around the 1270.00 level. This support floor is technically reinforced by the lower daily Bollinger Band and aligns with the 61.8% Fibonacci retracement of the upward impulse move originating in June, which previously held Wave A in August. The recent upward bounce effectively terminates the previous intermediate ABC correction wave (2) that began in late August. Technical indicators suggest that the precious metal is now resuming its broader upward trajectory within an active impulse wave 1. Looking ahead, market analysts anticipate Palladium to advance toward the next key resistance benchmark at 1400.00. This level previously capped advances for waves (1) and B, making it the primary upside target for traders and technical market participants navigating current precious metals momentum.