Platinum Wave Analysis – 13 May, 2024

• Platinum reversed from resistance level 1010.00

• Likely to fall to support level 990.00

Platinum just reversed down from the major resistance level 1010.00, which has been reversing the price from the end of December.

The resistance level 1010.00 stands well above the upper daily Bollinger Band – increasing the possibility of the sharp correction in the near-term future.

Give the strength of the resistance level 1010.00, overbought daily Stochastic, Platinum can be expected to fall further toward the next support level 990.00.