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October 26, 2020 at 03:23PM
• Platinum reversed from resistance area
• Likely to fall to 0.8400
Platinum recently reversed down sharply from the resistance area lying between the resistance level 917.00 (top of wave A from the end of September), upper daily Bollinger band and the 61.8% Fibonacci correction of the previous onward impulse 5.
If the price closes today near the active levels it will form the strong daily candlesticks reversal pattern Bearish Engulfing.
Platinum is likely to fall further toward the next support level 0.8400 (low of the previous minor correction B from the middle of October).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/platinum-wave-analysis-26-october-2020-20201026/
Selected by fonecable.com
Search Web: Platinum Wave Analysis 26 October, 2020
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