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Platinum Wave Analysis – 24 January, 2019

  • Platinum reversed from round support level 1000.00
  • Likely to rise to 1040.00

Platinum earlier reversed up sharply from the round support level 1000.00 (former multi-month resistance from September, acting as the support now after it was broken by the previous sharp upward impulse wave 3)

The upward reversal from the support level 1000.00 started the (b)-wave of the active short-term ABC correction 4.

Given the overriding daily uptrend – Platinum is likely to rise further toward the next resistance level 1040.00 (which stopped the previous sharp upward impulse wave 3).

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