Platinum Wave Analysis 25 January, 2021

• Platinum reversed from key resistance level 1140.00

• Likely to fall to support level 1070.00

Platinum recently reversed down with the daily Japanese candlesticks reversal pattern Bearish Engulfing from the key resistance level 1140.00 – standing close to the upper daily Bollinger Band.

The downward reversal from the resistance level 1140.00 stopped the previous impulse waves (iii), 3 and (3).

Platinum is expected to fall further toward the next support level 1070.00 (low of the previous short-term correction (ii)).