Technical analysis

Platinum Wave Analysis 12 April, 2021

Platinum Wave Analysis 12 April, 2021

• Platinum falling inside wave 2

• Likely to reach support level 1115.0

Platinum continues to fall inside the minor correction 2, which started earlier from the resistance level 1237.00 (former support from the middle of February, top of the previous impulse wave (1)).

The resistance level 1237.00 was further strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the downward impulse from February.

Platinum is likely to fall further toward the next support level 1115.0 (low of the previous corrective wave (2) from last month and the target for the completion of wave 2).

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