Platinum Technical Analysis Report 29 December, 2020

  • Platinum rising inside impulse wave 3
  • Likely to rise to 1060.00 and 1090.00

Platinum continues to rise inside the sharp upward impulse wave 3 which started earlier from the key support area lying between the round resistance level 929.00 (former resistance from October also reversed the price at the end of November), lower daily Bollinger Band and the 61.85 Fibonacci retracement level of the previous upward impulse 1 from September.

Given the clear predominant uptrend that can be seen on the daily Platinum charts – the price is likely to rise further toward the next resistance level 1060.00 (top of the previous corrective wave (b)) – the breakout of which can lead to further gains toward 1090.00.


Was this post helpful?