Platinum at key level

NYMEX:PL1!   Platinum Futures
Platinum             "broke" its down trend recently, but it had a dramatic 2 day pullback to the base of the breakout. It is unclear whether the recent upswing was just a mildly longer pullback (see figure for pullback amounts) which will result in another drop in price or whether this is profit taking from the recent upswing.

A break below 930 indicates a continuation of the downtrend. A bounce off the 943 level indicates a new uptrend. These are confirmation signals, but what if you want to enter the trade sooner? See below.

What type of trader are you?

1. The 976 level could be a "loose" neckline (it could be drawn lower of course) to a head and shoulders pattern that had an absurdly abbreviated right shoulder (excellent short signal!)

2. Since the breakout coincided with both the 200 day EMA and the previous low of the downtrend, there is expected to be hard resistance and a pullback before a solid breakout (go long!).
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out