- 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)).