- Platinum broke strong resistance level 1380.00
- Further gains are likely
Platinum recently broke through the strong resistance level 1380.00 (which reversed the price with the daily Evening Star earlier this month).
The breakout of the resistance level 1380.00 is aligned with the active short-term impulse wave 5 – which belongs to the medium-term upward impulse sequence (5) from the end of January.
Platinum is expected to rise further and test the next support level 1.4500 (intersecting with the resistance trendline of the daily up channel from last September).