Platinum Wave Analysis – 29 August, 2019

• Platinum broke resistance area
• Further gains are likely

Platinum recently broke sharply through the resistance area lying between the strong resistance level 915.00 (multi-month high from April) and the resistance trendline of the wide daily up channel from June.

The breakout of this resistance area accelerated the active short-term impulse wave (iii) of the medium term impulse sequence (C) from May.

Platinum is expected to rise further and retest the next resistance level 950.00 (target price for completion of active impulse wave (iii)).