Technical analysis

Platinum Wave Analysis – 28 November , 2018

  • Platinum broke support area
  • Further losses are likely

Platinum recently broke through the support area lying between the key support level 834.00 (low of the previous wave A), support trendline of the daily up channel from August and the 38.2% Fibonacci correction of the previous ABC correction (A) from August.

The breakout of this support area accelerated the active short-term impulse wave C of the medium-term ABC correction (B) from the start of November.

Platinum is expected to fall further and re-test the next support level 810.00 (former resistance from August and September).

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