Platinum Wave Analysis – 2 January, 2023

• Platinum broke key resistance level 1050.00

• Likely to rise to resistance level 1100.00

Platinum recently broke above the key resistance level 1050.00 (which stopped the previous waves (A) and 1, as can be seen below).

The breakout of the resistance level 1050.00 coincided with the breakout of the 61.8% Fibonacci correction of the previous extended downward impulse from the start of March.

Platinum can be expected to rise further toward the next resistance level 1100.00 (target price for the completion of the active impulse wave (C)).