Platinum Wave Analysis – 03 April, 2019

Platinum reversed from support area

Further gains are likely

Platinum recently reversed up from the support area lying between the key support level 830.00 (which also reversed the price at the end of March) and lower daily Bollinger Band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer, highlighted below.

Platinum is expected to rise further and re-test the next resistance level 880.00 (which has been reversing the price from November).

Source: FxPro