Platinum Wave Analysis – 26 February, 2020
February 26, 2020 @ 18:09 +03:00
- Platinum broke support area
- Likely to fall to 911.5
Platinum recently broke the support area lying between below the support level 960.00 (which has been reversing the price from January) and 50% Fibonacci retracement of the previous upward impulse from November)
The breakout of this support area was preceded by the breakout of the wide daily up channel from November – which strengthened the bearish pressure on Platinum.
Platinum is likely to fall further toward the next support level 911.5 (low of the daily Morning Star from December and the target for the completion of the active impulse 1).