Platinum Wave Analysis – 5 June, 2020

• Platinum broke support area

• Likely to fall to 800.00

Platinum recently broke the support area lying between the key support level 850.00 (which stopped the two previous waves (i) and (b)) and the 38.2% Fibonacci correction of the previous upward impulse (c) from the middle of April.

The breakout of this support area continues the active impulse wave (iii) – which belongs to the C-wave from May.

Platinum is likely to fall further toward the next round support level 800.00 (former resistance from the start of May).