Platinum Wave Analysis – 31 October, 2022

• Platinum reversed from resistance level 955.00

• Likely to fall to support level 900.00

Platinum recently reversed down from the pivotal resistance level 955.00 (which has been reversing the price from June), standing near the upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from March.

The downward reversal from the resistance level 955.00 stopped the earlier impulse waves (iii) and C.

Given the bearish sentiment across the precious markets today, Platinum can be expected to fall further toward the next round support level 900.00.