Technical analysis

Platinum Wave Analysis 11 May, 2021

• Platinum reversed from resistance area

• Likely to fall to support level 1175.00

Platinum recently reversed down from the resistance area lying between the key resistance level 1275.00 (which also reversed the price at the start of May) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Shooting Star.

Platinum is likely to fall toward the next support level 1175.00 (low of the previous Hammer from the end of April).

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