Categories: Technical analysis

Platinum Wave Analysis – 01 March, 2019

  • Platinum reversed from resistance area
  • Further losses are likely

Platinum recently reversed down from the resistance area lying between the pivotal resistance level 880.00 (multi-month high from November) and the upper daily Bollinger Band.

The downward reversal from this resistance area completed the previous medium-term ABC correction (2) from December.

With the overbought daily Stochastic – Platinum is expected to fall further and re-test the next support level 860.00.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: PTUUSD

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