- Platinum reversed from resistance area
- Further losses are likely
Platinum recently reversed down from the resistance area lying between the key resistance level 880.00 (former multi-month high from November) and the upper daily Bollinger Band.
The downward reversal from this resistance area accelerated the active short-term impulse wave 1 of the medium-term impulse wave (3) from February.
Platinum is expected to fall further and re-test the next support level 835.00 – the breakout for which can lead to further losses toward 820.00.