- Platinum reversed from support area
- Further gains are likely
Platinum recently reversed up from the support area lying between the support level 850.00, lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward impulse from February.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing – standing outside of the lower Bollinger Band (strong bullish signal).
Platinum is expected to rise further and re-test the next resistance level 880.00 (former support from April).