Categories: Technical analysis

Platinum Wave Analysis 30 December, 2020

• Platinum broke key resistance level 1064.00

• Likely to rise to 1093.50

Platinum recently broke above the key resistance level 1064.00 (top of the previous minor corrective wave (b) from last week – which was set as the likely upward target in our earlier forecast for this instrument).

Platinum is currently rising inside the multi-impulse upward impulse wave 3 from the middle of December – which belongs to wave (3) from September.

Platinum is expected to rise further to the next resistance level 1093.5 (top of the previous impulse wave 1) – from where Platinum is likely to correct down – due to the overbought daily Stochastic.

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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The FxPro Tech Analysis Team
Tags: PTUUSD

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