• Platinum reversed from resistance area
• Further losses are likely
Platinum recently reversed down from the resistance area lying at the intersection of the round resistance level 800.00 (former strong support from July) and the 38.2% Fibonacci correction of the downward impulse from July.
The downward reversal from this resistance area started the active short-term wave 3 – which belongs to the impulse wave (5) from July.
Platinum is expected to fall further and retest the next support level 760.00 (low of the previous impulse wave 1).