Categories: Technical analysis

Platinum Wave Analysis 29 January, 2021

• Platinum reversed from key support level 1072.00

• Likely rise to resistance level 1140.00

Platinum today reversed up from the key support level 1072.00 (which has been reversing the pair from last month), interesting with the lower daily Bollinger Band.

If the pair closes today near the current levels it will form the Japanese candlesticks reversal pattern Morning Star – strong buy signal for Platinum.

Platinum is expected to rise further toward the next resistance level 1140.00 (which stopped the two previous impulse waves (i) and i).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: platinum

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