munyaelliott

PLATINUM (XPT/USD) SHORT

Short
TVC:PLATINUM   CFDs on Platinum (US$ / OZ)
Charts rarely come as crystal clear as this one. The price for Platinum has been range-bound on the weekly and daily timeframe, however downtrend from the monthly is still there. Going to the immediate now, the daily timeframe and four hour timeframe both show that price rejected the resistance level at 871.73, and is now southbound towards the 779.91 support level. The short-term trendline on the four hour timeframe has also been broken to the downside, giving more confluence and confidence.Therefore, traders must be lookout for a downside-break of the 844.71 level in order enter short positions. Happy selling!

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