Technical analysis

Platinum Wave Analysis – 01 November , 2018

  • Platinum broke resistance area
  • Further gains are likely

Platinum recently broke through the resistance area located between the strong resistance level 848.00 (which has been reversing the price from July) and the resistance trendline of the daily up channel from August.

The breakout of this resistance area accelerated the active short-term impulse wave (C) – which belongs to the longer-term ABC correction ④ from August.

Platinum is expected to rise further and re-test the next resistance level 880.00 (target price for the completion of the active impulse wave (C)).

Article Rating
Rate this post