Platinum Wave Analysis – 6 January, 2023
January 06, 2023 @ 20:32 +03:00
• Platinum reversed from key support level 1050.00
• Likely to rise to resistance level 1100.00
Platinum recently reversed up from the key support level 1050.00 (former resistance which stopped the previous waves (A) and 1).
The support level 1050.00 was further strengthened by the 38.2% Fibonacci correction of the previous sharp upward impulse from the end of December.
Given the medium-term uptrend, Platinum can be expected to rise further toward the next resistance level 1100.00 (which formed the daily Shooting Star earlier this month).