⬤ Palladium keeps bouncing off its ascending support within a rising broadening wedge, with the latest hammer candle adding to the bullish case. Buyers keep showing up on dips, letting the metal hold above key trend support even as markets stay choppy. Those lower wicks along the support line? They're telling you someone's actively buying these levels.
⬤ The chart's packed with rejection candles right at support, which usually means demand is alive and well at higher lows. Sellers keep trying to push price down but can't get any follow-through. Palladium's consolidating in the upper half of this structure while resistance lines up with the wedge's rising top boundary. This looks more like strength building than weakness forming.
⬤ Here's what matters: sellers haven't been able to break this thing down structurally. Buyers are defending the technical levels that count, and those repeated hammers near support show dip-buyers are still in the game. The metal's taking a breather after its recent move, but the buying interest hasn't disappeared.
⬤ This setup matters because palladium tends to move hard when established patterns break. As long as it keeps respecting that ascending support and making higher lows, there's no bearish reversal signal here. Momentum's still pointing up while the structure holds, making those technical levels crucial to watch as this consolidation plays out.
