Platinum Wave Analysis – 11 May 2023

• Platinum reversed from resistance level 1125.00

• Likely to fall to support level 1080.00

Platinum recently reversed down from the major resistance level 1125.00 (which stopped the previous sharp upward impulse in April), strengthened by the nearby upper daily Bollinger Band.

The downward reversal from the resistance level 1125.00 stopped the previous minor impulse wave 3 from the start of May.

Given the strength of the resistance level 1125.00, Platinum can be expected to fall further toward the next support level 1080.00.