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.