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Platinum Wave Analysis – 5 July, 2019

  • Platinum reversed from resistance area
  • Further losses are likely

Platinum recently reversed down with the daily Shooting Star from the resistance area lying between the resistance level 844.00 (former support from May), upper daily Bollinger Band and the 50% Fibonacci correction level of the previous sharp downward impulse 1 from April.

The downward reversal from this resistance area started the active short-term impulse wave 3.

Platinum is expected to fall further and retest the next round support level 800.00 (former support from the end of June).

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Source: FxPro


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