• Platinum broke resistance area
• Further gains are likely
Platinum recently above the resistance area lying between the key round resistance level 800.00 (which has been reversing the price from last month) and the 38.2% Fibonacci correction of the previous downward impulse from July.
The breakout of this resistance area accelerated the active medium-term ABC correction (4) from the key support level 760.00.
Platinum is expected to rise further and retest the next resistance level 830.00 (target price for the completion of the active wave (4)).