Invezted

Potential Strength @Platinum yet Fails to Confirm it!

NYMEX:PL1!   Platinum Futures
109 0 1
Hmmm , the signs of strength fail to unfold in platinum             , the high volume at the supportish level, wich holds price
above it , shows some buying activity , as price stays above the level , yet no one is follwoing price any higher

the first rally after the high vol. spike at support , stopped at the middle point of the range at 1540

the second rally failed to make a new high

the third rally attempt ??? well its still on , so we dont know yet where this halts..

but at this supportish level with this buying activity we should think that price should start a rally
but it fails to show the strength ... this pot. strenght wich isnt conformed is actually a sign of weakness!

however we make no significant downward progress too

a buying opportunity would only be present if we take out the upper channel line and make a higher low

however a short woulod be much more interresting if we break support significantly , as all potential longs
would most likely puke the shit out of it.. which will propell platinum             , way down till 800ish! as we have enough space to the downside!


will be interresting to see how that situation resolves itself!



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