Categories: Technical analysis

Platinum Wave Analysis – 1 June, 2020

• Platinum reversed from support zone

• Likely to rise to 940.00

Platinum recently reversed up from the support zone lying between the support level 850.00 and the 38.2% Fibonacci correction of the previous upward impulse from April.

The upward reversal from this support zone stopped the preceding short-term impulse wave (c) of the ABC correction 4 from May.

Platinum is expected to rise further toward the next resistance level 940.00 (which stopped the earlier sharp upward impulse wave 3).

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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