Platinum Wave Analysis – 07 August, 2020

• Platinum reversed from resistance area

• Likely to fall to 950,00

Platinum today reversed down from the resistance area lying between the two powerful resistance levels  1050,00 (monthly high from January) and 1022,00 (monthly high from February).

This resistance area was further strengthened by the upper daily Bollinger Band.

Given the strength of the aforementioned resistance area – Platinum is likely to fall further toward the next support level 950,00.