Technical analysis

Platinum Wave Analysis – 16 July, 2021

• Platinum reversed from resistance level 1130,00
• Likely to fall to support level 1085,00

Platinum recently reversed down from the resistance level 1130,00 (former support from June and March) intersecting with the upper daily Bollinger band and the 38,2% Fibonacci correction of the downward impulse from May..

The downward reversal form the resistance level 1130,00 stopped the previous ABC correction (2) from the middle of June.

Platinum can be expected to fall toward the next support level 1085,00 – followed by the support level 1062,00.

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