Platinum Wave Analysis – 3 May, 2022

• Platinum reversed from support zone
• Likely to rise to resistance level 960.00

Platinum recently reversed up strongly from the powerful long-term support level 900.00 (which has been reversing the price from last September), standing near the lower daily Bollinger Band.

The upward reversal from support level 900.00 stopped the previous short-term impulse wave 3 of the higher impulse wave (3) from last month.

Given the strength of the nearby support level 900.00 – Platinum can be expected to rise further toward the next resistance level 960.00 (the former monthly low from March).