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Platinum Wave Analysis – 23 August , 2018

• 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).

PTUUSD - Primary Analysis - Aug-23 1706 PM (1 day)

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