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Platinum Wave Analysis – 27 February, 2019

  • Platinum broke key resistance level 858.00
  • Further gains are likely

Platinum recently broke through the key resistance level 858.00 (top of wave 2 from the end of November) – which was preceded by the breakout of resistance level 834.00 (top of waves A and (b)).

The breakout of the aforementioned resistance levels accelerated the active short-term impulse wave C of the medium-term ABC correction (2) from December.

Platinum is expected to rise further and re-test the next resistance level 880.00 (multi-month high from November).

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Source: FxPro


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