Categories: Technical analysis

Platinum Wave Analysis – 24 January, 2020

  • Platinum reversed from round support level 1000.00
  • Likely to rise to 1040.00

Platinum earlier reversed up sharply from the round support level 1000.00 (former multi-month resistance from September, acting as the support now after it was broken by the previous sharp upward impulse wave 3)

The upward reversal from the support level 1000.00 started the (b)-wave of the active short-term ABC correction 4.

Given the overriding daily uptrend – Platinum is likely to rise further toward the next resistance level 1040.00 (which stopped the previous sharp upward impulse wave 3).

AddThis Website Tools
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.

Share
Published by
The FxPro Tech Analysis Team
Tags: PTUUSD

Recent Posts

NZDUSD Wave Analysis 10 January 2025

- NZDUSD falling inside weekly impulse wave C - Likely to fall to support level…

2 days ago

GBPUSD Wave Analysis 10 January 2025

- GBPUSD broke key support level 1.2300 - Likely to fall to support level 1.2100…

2 days ago

WTI crude oil Wave Analysis 9 January 2025

- WTI crude oil reversed from support level 72.25 - Likely to rise to resistance…

3 days ago

USDCAD Wave Analysis 9 January 2025

- USDCAD reversed from support zone - Likely to rise to resistance level 1.4450 USDCAD…

3 days ago

GBPCHF Wave Analysis 8 January 2025

- GBPCHF reversed from resistance zone - Likely to fall to support level 1.1200 GBPCHF…

4 days ago

USDJPY Wave Analysis 8 January 2025

- USDJPY broke resistance level 158.00 - Likely to rise to resistance level 160.00 USDJPY…

4 days ago