Platinum Wave Analysis – 16 August, 2019

• Platinum broke support area
• Further losses are likely

Platinum recently broke the support area lying between the support level 850.00 (former resistance from June) and the support trendline of the daily down channel from June.

The breakout of this support area accelerated the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (3) from the end of July.

Platinum is expected to fall further and retest the next support level 820.00 (which reversed the price in July).