- Platinum broke support zone
- Likely to fall to support level 1200.00
Platinum recently broke the support zone located between the key support level 1340.00 (low of the previous minor correction iv) and the support trendline of the daily up channel from May.
The breakout of this support zone accelerated the c-wave of the active ABC correction 4.
Given the bearish sentiment across the precious metals markets, Platinum can be expected to fall to the next support level 1200.00 (target for the completion of the active wave c).
- Likely to fall to support level 1200.00
Platinum recently broke the support zone located between the key support level 1340.00 (low of the previous minor correction iv) and the support trendline of the daily up channel from May.
The breakout of this support zone accelerated the c-wave of the active ABC correction 4.
Given the bearish sentiment across the precious metals markets, Platinum can be expected to fall to the next support level 1200.00 (target for the completion of the active wave c).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.