Categories: Technical analysis

Platinum Wave Analysis – 22 February, 2019

  • Platinum broke key resistance level 834.00
  • Further gains are likely

Platinum continues to rise after the earlier breakout of the key resistance level 834.00 (which has been reversing the price from the start of January, as can be seen below).

The breakout of the resistance level 834.00 accelerated the active short-term impulse wave C of the medium-term ABC correction (2) from December.

Platinum is expected to rise further and re-test the next resistance level 860.00 (high of the previous wave 2 from November).

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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The FxPro Tech Analysis Team
Tags: PTUUSD

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