Palladium Wave Analysis – 29 October 2026
Date: October 29, 2026
Market Overview
The analysis focuses on the recent performance of palladium, highlighting a significant bearish trend. The current market conditions indicate a strong downward movement, with palladium breaking through critical support levels.
Technical Analysis
Palladium has recently breached the support level of 1030.00, which is situated within a daily down channel that has been in place since early September. This breakout has intensified the ongoing impulse wave iii of the larger impulse wave 5 that began in mid-October.
Given the prevailing strong downtrend, it is anticipated that palladium will continue to decline, with a target price set at the next significant support level of 950.00. This level is expected to mark the completion of the active impulse wave iii.
Conclusion
In summary, the technical indicators suggest a bearish outlook for palladium, with expectations of further declines towards the 950.00 support level. Traders are advised to consider selling positions in light of the current market dynamics.