Platinum: ⬇️ Sell
- Platinum reversed from strong resistance zone
- Likely to fall to support level 1600.00
Platinum recently reversed down from the strong resistance zone located between the resistance level 1722.00 (which stopped the pervious impulse wave 1), resistance level 1700.00 and the upper daily Bollinger Band.
The downward reversal from this resistance zone is likely to form the daily Japanese candlesticks reversal pattern Shooting Star – if the price closes today near the current levels.
Given the bearish divergence on the daily RSI indicator, Platinum can be expected to fall to the next round support level 1600.00.
, resistance level 1700.00 and the upper daily Bollinger Band.){kind=link}