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.