Categories: Technical analysis

Platinum Wave Analysis – 19 April, 2019

  • Platinum reversed from support area
  • Further gains are likely

Platinum recently reversed up from the support area lying at the intersection of the key support level 880.00 (former multi-month resistance level from October) and the 50% Fibonacci correction of the upward impulse from the start of April.

This upward reversal from this support area continues the active short-term upward impulse sequence 3 from the middle of February.

Platinum is expected to rise further and re-test the next resistance level 920.00 (top of the previous impulse wave (iii)).

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The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: PTUUSD

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