Technical analysis

Platinum Wave Analysis 4 December, 2020

Platinum Wave Analysis 4 December, 2020

• Platinum rising inside impulse waves 3, (5)

• Likely to reach 1150.00

Platinum continues to rise strongly after the price broke above the powerful long-term resistance level 1033.00 (which stopped the previous multi-month uptrends in January and March).

The breakout of the resistance level 1033.00 accelerated the active multi-impulse upward price move made out of the impulse waves 3, (5) and ③.

Platinum is expected to rise further toward the next resistance level 1150.00 (top of the weekly up channel from March and the expected price for the completion of the active impulse waves 3, (5) and ③).

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