Platinum Wave Analysis 16 April, 2021

• Platinum reversed from support level 1155.0

• Likely to rise to 1250.00

Platinum recently reversed up from the key support level 1155.00 (former resistance from January and the low of the previous correction (2)).

The upward reversal form the support level 1155.00 created the daily Japanese candlesticks reversal pattern Bullish Engulfing – which started the active impulse wave 3.

Platinum is likely to rise further toward the next round resistance level 1250.00 (top of the previous impulse wave 1).