Technical analysis

Platinum Wave Analysis – 13 August, 2021

• Platinum reversed from support area

• Likely to rise to resistance level 1050,00

Platinum recently reversed up from the support area lying between the key support level 950,00 (which reversed the price in December), daily down channel from May and the lower daily Bollinger band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star.

Platinum can be expected to rise further toward the next resistance level 1050,00 (former support from June and July).

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