- Platinum reversed from resistance area
- Further losses are likely
Platinum recently reversed down from the resistance area lying between the pivotal resistance level 880.00 (multi-month high from November) and the upper daily Bollinger Band.
The downward reversal from this resistance area completed the previous medium-term ABC correction (2) from December.
With the overbought daily Stochastic – Platinum is expected to fall further and re-test the next support level 860.00.