Palladium (#PA) earlier stopped the previous sharp downward correction with the daily Japanese candlesticks reversal pattern “Piercing Line”, which was identified by Selected Alpha on the daily Palladium charts. You can see this reversal pattern highlighted on the daily Palladium chart below. This candlesticks reversal pattern broke the lower daily Bollinger Band – increasing its reversal potential – highlighted by the CandleScore rating of 5.3. This candlestick reversal pattern is trend-aligned – given the strength of the active uptrend at 40%.
The “Piercing Line” former near the minor support level 2720.00 (former minor correction low from April and resistance level from March).
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