Csys

PL1! monthly TA

NYMEX:PL1!   Platinum Futures
10 0 0
I would love to be on the long side of the market for this precious metal after the green TL is broken. The price is headed to test the old lows, and I am suspicious if we will hit the horizontal red line or not. In any case, it seems we will test the green TL in the immediate future. If it's broken, it will mean the correction starts, and it may most probably last until a retest of LWL3. As an alternative scenario, the green TL may be broken with some lesser strength; price sticks to LWL4 and then brake it. One could find signals and indications about which scenario will come true by looking at the behavior of the market at the breakout level. But what would be most ascertaining for the bulls, as the third scenario, is the price continuing to decline without touching the greed TL. Then it would be frightening to go long, but of the most assured at the same time.
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