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Platinum Wave Analysis – 16 October, 2019

  • Platinum reversed from support area
  • Likely to rise to 910.00

Platinum recently reversed up from the support area lying between the broke the key support level 880.00 (former resistance from July) and the 61.8% Fibonacci retracement of the previous upward impulse from June.

The upward reversal from this support area stopped the previous medium-term ABC correction (2).

Platinum is expected to rise further and retest the next resistance level 910.00 (top of the previous impulse wave (1)).

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