Categories: Technical analysis

Platinum Wave Analysis – 19 September, 2019

  • Platinum reversed from support area
  • Further gains likely toward 963.00

Platinum recently reversed up from the support area lying between the support levels 928.00 (which stopped the earlier waves (iv) and (a)), 920.00, 50% Fibonacci correction of the previous upward impulse from August and the upper trendline of the recently broke up channel from June.

The upward reversal from this support area stopped the earlier short-term impulse wave (c).

Platinum is expected to rise further and retest the next resistance level 963.00 (top of the previous correction (b) from the middle of September).

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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