• Platinum reversed from resistance area
• Likely to fall to support level 1150.

Platinum currency recently reversed down from the resistance area lying between the resistance level 1240.00 (top of the previous sharp impulse wave (1) at the end of March), upper daily Bollinger Band and the 50% Fibonacci correction of the downward correction from the middle of February. The downward reversal from this resistance area started the active short-term corrective wave 2.

Platinum can be expected to fall further toward the next support level 1150.00 (low of the previous intermediate corrective wave (2) from the end of March and the target price for the completion of the active correction 2).