Csys

PL1! weekly TA

NYMEX:PL1!   Platinum Futures
6 0 0
The monthly look warned us about an imminent reversal, but I have no interest in getting into the train too early. The price has not yet reached the ML. And notice I choose my anchor placed between P1 and P2 of the pitchfork for a better fit, rendering the UMLH as the action line. Thus, I am waiting for a continued bearish action. The final arbiter will be the price behavior at the UMLH. On the other hand, the price may fall down without even reaching the UMLH, in which case the short trades should be led by a lower time frame analysis.
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