- Platinum rising inside impulse wave 3
- Likely to reach resistance level 986
Platinum continues the multi-session ascent inside the short-term impulse wave 3, which previously broke the key resistance level 914.50 (which is also the upper boundary of the sideways price range inside which Platinum has been trading from the end of September, as can be seen from the daily Platinum chart below). The breakout of the resistance level 914.50 strengthened the bullish pressure on Platinum – accelerating the active impulse waves 3 and (C).
Given the fact that the price is currently moving inside the two nested different length impulse sequences 3 and (C) – Platinum can be expected to gain further toward the next strong resistance level 986.0 (former monthly high from September and the target price for the completion of the active impulse wave 3).