Platinum Wave Analysis – 17 March, 2022

• Platinum reversed from support zone
• Likely to rise to resistance level 1040.

Platinum recently reversed up from the support zone located between the support levels 1000.00 and 990.00 (which have been reversing the price from November), strengthened by the 50% Fibonacci correction of the upward impulse from February .

The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line.

Platinum can be expected to rise further toward the next resistance level 1040.00 (former support from February).