Platinum Wave Analysis – 20 November, 2019

Platinum rising inside impulse wave ③
Likely to rise to 940,00

Platinum has been rising in the last few trading sessions inside the impulse wave ③, which started earlier from the strong support level 880,00.

The support area near the support level 880.00 was strengthened by the 61,8% Fibonacci correction of the previous upward impulse from May and the lower daily Bollinger Band.

Platinum is expected to rise further toward the next resistance level 940,00 (former resistance from September and October).

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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