• Platinum reversed from key resistance level 1140.00
• Likely to fall to support level 1070.00
Platinum recently reversed down with the daily Japanese candlesticks reversal pattern Bearish Engulfing from the key resistance level 1140.00 – standing close to the upper daily Bollinger Band.
The downward reversal from the resistance level 1140.00 stopped the previous impulse waves (iii), 3 and (3).
Platinum is expected to fall further toward the next support level 1070.00 (low of the previous short-term correction (ii)).