Platinum Wave Analysis 26 October, 2020
October 26, 2020 @ 18:23 +03:00
• Platinum reversed from resistance area
• Likely to fall to 840
Platinum recently reversed down sharply from the resistance area lying between the resistance level 917.00 (top of wave A from the end of September), upper daily Bollinger band and the 61.8% Fibonacci correction of the previous onward impulse 5.
If the price closes today near the active levels it will form the strong daily candlesticks reversal pattern Bearish Engulfing.
Platinum is likely to fall further toward the next support level 840 (low of the previous minor correction B from the middle of October).