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Platinum Wave Analysis – 19 April, 2019

  • Platinum reversed from support area
  • Further gains are likely

Platinum recently reversed up from the support area lying at the intersection of the key support level 880.00 (former multi-month resistance level from October) and the 50% Fibonacci correction of the upward impulse from the start of April.

This upward reversal from this support area continues the active short-term upward impulse sequence 3 from the middle of February.

Platinum is expected to rise further and re-test the next resistance level 920.00 (top of the previous impulse wave (iii)).

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Source: FxPro


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