Platinum Wave Analysis – 21 July, 2020

• Platinum broke key resistance level 858.50

• Likely to rise to 918.8

Platinum recently broke above the multi-month resistance level 858.50 (former strong support from the start of March).

The breakout of the resistance level 858.50 coincided with the breakout of the 61.8% Fibonacci correction of the previous sharp downward impulse from February.

Platinum is likely to rise further toward the next resistance level 918.8 (previous monthly top from March and the forecast price for the termination of the active impulse wave C).