• Platinum broke support level 860.00
• Likely to fall further
Platinum continues to fall after the earlier breakout of the support level 860.00 (which was mentioned in our previous forecast for this currency pair). The breakout of the support level 860.00 follows the earlier breakout of the major support level 880.00 (which has been reversing the price from December).
The breakout of the support levels 860.00 and 880.00 accelerated the active short-term impulse wave C, which belongs to the medium-term impulse wave (C) from last year.
Platinum is likely to fall further and re-test the next support level 820.00 (intersecting with the support trendline of the daily down channel from January).