Categories: Technical analysis

Platinum Wave Analysis – 07 August, 2020

• Platinum reversed from resistance area

• Likely to fall to 950,00

Platinum today reversed down from the resistance area lying between the two powerful resistance levels  1050,00 (monthly high from January) and 1022,00 (monthly high from February).

This resistance area was further strengthened by the upper daily Bollinger Band.

Given the strength of the aforementioned resistance area – Platinum is likely to fall further toward the next support level 950,00.

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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