Platinum Wave Analysis – 20 May, 2020
May 20, 2020 @ 17:35 +03:00
• Platinum broke resistance level 840.00
• Likely to rise to 900.00
Platinum recently broke the resistance level 792.00 intersecting with the 50% Fibonacci retracement of the previous sharp downward impulse from February.
The breakout of the resistance level 792.00 was followed by today’s breakout of the resistance level 840.00 – which should add to the bullish pressure on Platinum.
Platinum is likely to rise further toward the next round resistance level 900.00 (likely price for the completion of the active ABC correction (2)).