Platinum Wave Analysis 10 March, 2021

• Platinum reversed from support area

• Likely to rise to resistance level 1220.00

Platinum recently reversed up from the support zone located between the key support level 1135.00 (former resistance from January), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from November.

The upward reversal from this support zone started the active short-term corrective wave (b).

Given the prevailing daily uptrend – Platinum is likely to rise further in the active wave (b) toward the next resistance level 1220.00.