Platinum Technical Analysis 25 August, 2021

• Platinum reversed from resistance area
• Likely to fall to support level 960,00

Platinum recently reversed down from the resistance area located between the key resistance level 1017.0 (former strong support from January and June) and the 38,2% Fibonacci correction of the downward price impulse (1) from the middle of July. The downward reversal from this resistance area continues the active medium-term impulse wave (3).

Given the multi-month downtrend, Platinum can be expected to fall further toward the next support level 960,00 (which reversed the price twice from the start of this month) – from where the price is likely to correct up.


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