Platinum Technical Analysis Report 29 January, 2021

• Platinum reversed from key support level 1050.00
• Likely to rise to resistance level 1140.00

Platinum recently reversed up from the key support level 1050.00 (former resistance form December which stopped the previous downward correction at the start of January), intersecting with the support trendline of the daily up channel from December and the lower daily Bollinger Band. The price will most likely create the daily candlestick reversal pattern Minoring Star if the price closes today near the current levels.

Given the clear uptrend that can be seen on the daily Platinum charts – the price is expected to rise further toward the next resistance level 1140.00 (which stopped the previous impulse waves (i) and i).

Was this post helpful?