• Platinum broke resistance zone
• Further gains are likely
Platinum continues to rise after the earlier breakout of the resistance zone lying between the key resistance level 810.00 (which has been reversing the price from the end of August, as can be seen below) and the 50% Fibonacci correction of the previous sharp downward impulse from July.
The breakout of this resistance zone should accelerate the active short-term impulse wave (iii) – which belongs to wave C from last month.
Platinum is expected to rise further in the active medium-term corrective wave (2) and retest the next resistance level 840.00.