after seeing a nice and expected growth in the last few weeks it was broken in a short time by a small wave of panic. But we must not forget that we are near the 10 year price low and Platinum is a precious metal which is often needed in the industry. Other metals/raw materials are already expensive so more and more money flows into Platinum.
Technical Analysis
Platinum is in an upward channel and in the formation of an Elliot wave. I expect a jump above the upward channel and thus the completion of the Elliot wave on which an ABC correction should follow
First long position sales targets are $ 860- $ 870, from here I expect the beginning of the ABC correction and a possibility to open a short position to trade the correction down to 845 $.
RSI and MACD are still bullish and have room to grow. I expect first big sales close to the 20 line at the MACD and 80 line at the RSI