Platinum Wave Analysis

  • Platinum reversed from support level 960.00
  • Likely to rise to resistance level 1025.00

Platinum recently reversed up from the pivotal support level 960.00 (former resistance from October), support trendline of the daily up channel from September and the 50% Fibonacci correction of the upward impulse from September.

The upward reversal from the support level 960.00 started the active medium-term impulse wave (C).

Platinum can be expected to rise further toward the next resistance level 1025.00 (which has been reversing the price from March, the target for the completion of the active impulse wave 1).

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading