- Platinum reversed from round support level 800.00
- Likely to rise to 850.00
Platinum recently reversed up sharply from the round support level 800.00 (low of the earlier impulse wave (iii)) – standing near the lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous wave (c) from April.
The upward reversal from the support level 2670.00 stopped the previous short-term impulse wave (iii). Platinum is likely to rise further toward the next resistance level 850.00 – top of the previous minor correction (ii).