Platinum Wave Analysis – 17 November, 2022

• Platinum reversed from resistance level 1030.00

• Likely to fall to support level 960.00

Platinum recently reversed down from the key resistance level 1030.00 (previous multi-month high from June) intersecting with the upper daily Bollinger Band and the resistance trendline of the daily up channel from September.

The downward reversal from the resistance level 1030.00 started the active short-term corrective wave 4.

Platinum can be expected to fall further toward the next support level 960.00 (target price for the completion of the active wave 4).