Platinum Wave Analysis – 08 November, 2019

November 08, 2019 at 02:05PM
  • Platinum broke support level 900.00
  • Likely to fall to 880.00

Platinum recently broke the support zone lying between the round support level 900.00 (former resistance from October) and the 50% Fibonacci correction of the previous upward impulse from October.

The breakout of this support zone accelerated the active medium-term ABC correction (2)

Platinum is expected to fall further and retest the next key support level 880.00 (low of the earlier correction 2 and the target price for the completion of wave (2)).

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From: The FxPro Tech Analysis Team
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