Platinum Wave Analysis – 12 September, 2019
September 12, 2019 @ 14:26 UTC
- Platinum reversed from support zone
- Further gains are likely
Platinum recently reversed up from the support zone lying between the key support level 931.00 (low of the previous wave (a)), upper trendline of the daily up channel from June and the 38.2% Fibonacci correction of the previous upward impulse 3 from August.
The upward reversal from this support zone started the active short-term wave (b), which belongs to wave 4 of the sharp impulse wave (C) from May.
Platinum is expected to rise further and retest the next major resistance level 1000.00 (top of the previous impulse wave 3).