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.

Share
Published by
The FxPro Tech Analysis Team
Tags: PTUUSD

Recent Posts

ADP hints at another strong NFP on Friday  

The monthly ADP labour market report showed that America created 192K new jobs in April, above…

9 hours ago

Fed’s hawkish tone risks sinking S&P500 to 4700

Bears showed strength ahead of the FOMC decision.  U.S. indices sagged on Tuesday as investors…

13 hours ago

A new stage of Bitcoin’s decline

Market Picture  Bitcoin's closing price on Tuesday became the lowest since late February, confirming the…

16 hours ago

Ebay Wave Analysis 30 April 2024

- Ebay under the bearish pressure - Likely to fall to support level 51.00 Ebay…

1 day ago

GBPAUD Wave Analysis 30 April 2024

- GBPAUD reversed from key support level 1.9135 - Likely to rise to resistance level…

1 day ago

Silver: a possible long road down

Silver has lost 2.6% since the start of the day on Tuesday to $26.4 per…

1 day ago

This website uses cookies