• Platinum broke daily up channel
• Further losses are likely
Platinum continues to fall inside the accelerated short-term impulse wave 3 – which recently broke the support trendline of the short-term up channel from August.
The breakout of this up channel strengthened the bearish pressure on Platinum and accelerated the active impulse waves 3 and (5)
Given the strength of the downtrend visible on the daily harts – Platinum is expected to fall further and retest the next support level 760.00 (monthly low from the middle of August).