Categories: Technical analysis

Platinum Wave Analysis – 2 September, 2022

• Platinum reversed from support level 828.20

• Likely to rise to resistance level 860.00

Platinum today reversed up from the key support level 828.20 (which stopped the previous medium-term impulse wave (A) in the middle of July) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 828.20 stopped the earlier short-term impulse wave 3.

Given the oversold daily Stochastic and the strength of the support level 828.20 – Platinum can be expected to rise further toward the resistance level 860.00.

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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