Platinum Wave Analysis – 16 October, 2019
October 16, 2019 @ 16:43 +03:00
- Platinum reversed from support area
- Likely to rise to 910.00
Platinum recently reversed up from the support area lying between the broke the key support level 880.00 (former resistance from July) and the 61.8% Fibonacci retracement of the previous upward impulse from June.
The upward reversal from this support area stopped the previous medium-term ABC correction (2).
Platinum is expected to rise further and retest the next resistance level 910.00 (top of the previous impulse wave (1)).