Platinum can be expected to rise to the next resistance level 2600.00 (target for the completion of the active short-term impulse wave 3).
- Platinum broke resistance zone
- Likely to rise to resistance level 2600.00
Platinum recently broke the resistance zone between the key resistance level 2450.00 (which has been reversing the price from the end of December, as can be seen from the daily Platinum chart below) and the resistance trendline of the daily Triangle from December. The breakout of this resistance zone accelerated the active short-term impulse wave 3, which belongs to the intermediate impulse wave (3) from July. The impulse wave (3) is itself a part of the long-term upward impulse sequence (1) from last year.
Given the strength of the active uptrend that can be seen on the daily and the weekly Platinum charts, Platinum can be expected to rise to the next resistance level 2600.00 (target for the completion of the active short-term impulse wave 3).
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