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Platinum Wave Analysis – 04 March, 2019

  • 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.

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Source: FxPro


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