Categories: Technical analysis

Platinum Wave Analysis – 31 December, 2019

  • Platinum broke the resistance area
  • Likely to rise to 1000.00

Platinum recently broke the resistance area lying between resistance level 960.00 (which has been reversing the price from September) and the 61.8% Fibonacci correction of the previous ABC correction (B) from September.

The breakout of this resistance area accelerated the active impulse waves 3 and (C).

Platinum is expected to rise further toward the next strong round resistance level 1000.00 (which stopped the sharp uptrend in September) – from where the price is likely to correct down.

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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