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Lanmar

Major bull flag in Platinum

Long
Platinum / U.S. Dollar (OANDA:XPTUSD)  
Lanmar Updated   
OANDA:XPTUSD   Platinum / U.S. Dollar
Wave Analysis Chart Patterns Trend Analysis XPTUSD XAG USD ( Silver / US Dollar) XAUUSD GC1! (Gold Futures) Si1! (Silver Futures) GLD SLV CDE
9
2
waveanalysis chartpattern trendanalysis xptusd xagusd xauusd gc1! si1! gld slv cde
Platinum is breaking out of a 5-6 week bull flag after tagging its 50 day moving average and reversing from major structure. Precious metals seem to be breaking out in general, but I particularly like the pattern in platinum. I am long all three (gold, silver and platinum).
Comment:
July 7th has given us DAILY confirmation.
Comment:
I no longer view this bull flag as reliable. More consolidation is needed for an extended move in either direction (which is still likely higher).

snapshot

I am on the sidelines.
Comment:
Platinum now breaking 2 month resistance:
snapshot
Comment:
1k hit. Should see some selling pressure here
Comment:
Platinum is still on my watch as it consolidates below 1k. What I'm interested in most is if platinum starts looking more favourable than gold and silver. The spread XPTUSD/XAGUSD and against gold look positive for platinum for the first time in a while. Something to keep an eye on.
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