Technical analysis

Platinum Wave Analysis – 25 August, 2021

• Platinum reversed from resistance zone

• Likely to fall to support level 950.00

Platinum recently reversed down from the resistance zone located between the resistance level 1022.00 (former multi-month low from June) and the 38.2% Fibonacci correction of the downward impulse from July.

The downward reversal from this resistance zone is likely to form the daily Evening Star – if the pair closes today near the current levels.

Platinum can be expected to fall further toward the next support level 950.00 (which has been reversing the price from the middle of December).

Article Rating
Rate this post