Platinum Wave Analysis – 23 October 2026

Platinum: ⬇️ Sell

– Platinum broke support level 1610.00

– Likely to fall to support level 1500.00

Platinum recently broke the support zone between the support level 1610.00 (which has been reversing the price from the middle of October) and the 78.6% Fibonacci correction of the upward ABC correction (2) from the start of July.

The breakout of this support zone accelerated the active impulse wave 3 of the higher order impulse wave (3) from the start of September.

Given the strong daily downtrend, Platinum can be expected to fall further toward the next round support level 1500.00 – target price for the completion of the active impulse wave 3 coinciding with the daily down channel from September.