Platinum Wave Analysis – 11 February, 2022

• Platinum reversed from resistance zone

• Likely to fall to support level 1000.00

Platinum recently reversed down from the resistance zone lying between the pivotal resistance level 1055.00 (which has been reversing the price from last month), upper daily Bollinger Band, 200-day moving average and the 61.8% Fibonacci correction of the downward impulse from July.

The downward reversal from this resistance zone stopped the previous short-term correction (ii).

Given the clear daily downtrend, Platinum can be expected to fall further toward the next round support level 1000.00.