Technical analysis

Platinum Wave Analysis – 23 November, 2022

Platinum Wave Analysis – 23 November, 2022

• Platinum reversed from support level 960.00

• Likely to rise to resistance level 1025.00

Platinum recently reversed up from the pivotal support level 960.00 (former resistance from October), support trendline of the daily up channel from September and the 50% Fibonacci correction of the upward impulse from September.

The upward reversal from the support level 960.00 started the active medium-term impulse wave (C).

Platinum can be expected to rise further toward the next resistance level 1025.00 (which has been reversing the price from March, the target for the completion of the active impulse wave 1).

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