Platinum recently reversed down from the pivotal resistance level 805.00 (former support from the end of September).
The downward reversal from this resistance level started the active medium-term impulse wave (3), which belongs to the longer-term downward impulse sequence from the start of November.
Platinum is expected to fall further in the active impulse wave (3) and re-test the next support level 780.00 (low of the impulse (1)) – the breakout of which can lead to further losses toward the next strong support level 755.00 (multi-month low from August).
The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
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