Technical analysis

Platinum Wave Analysis – 24 July, 2019

Platinum Wave Analysis – 24 July, 2019
  • Platinum rising inside impulse wave C
  • Further gains are likely

Platinum continues to rise inside the sharp short-term impulse wave C – which belongs to the medium-term ABC correction (2) from the end of May.

Price earlier broke the resistance area lying between the key resistance level 850.00 (which stopped the previous wave A in June) and the 50% Fibonacci correction of the previous downward impulse from April.

Platinum is expected to rise further and retest the next resistance level 880.00 (target price for the completion of the active wave C).

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