- Platinum rising inside impulse wave 3
- Likely to reach resistance level 1480.00
Platinum continues to rise inside the impulse wave 3, which started earlier from the support zone between the support level 1300.00 (which has been reversing the price from July), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse form June.
The price earlier broke above the resistance level 1370.00 (which stopped waves 1 and i) - which accelerated the active impulse wave 3.
Given the sharp daily uptrend, Platinum can be expected to rise to the next resistance level 1480.00, target price for the completion of the active impulse wave 3.