Using a 200-Day , which measures how far current price is from the 200-Day (EMA200), you can clearly see that platinum tends to set cyclical lows when it is around 17-20% below its EMA200. Significant bounces have also occurred when the DI200 is only at -13%.
Since November, platinum has stabilized above the $1180 handle. The fact that this corresponded to the metal being at parity with gold is worth noting. Check out the descending that has thus far allowed for a limited technical bounce the past couple of weeks. The May/June 2012 and June 2013 lows were set on this , and platinum bounced all the way back to and even above its EMA200 afterwords.
The EMA200 is currently at $1355, and it will slowly descend as time goes by. If platinum manages to remain above the $1180 level by the end of the year, I think there will be some upside potential at the start of 2015 just like there was at the beginning of 2014. I therefore believe it's worth entertaining the idea of going long in the platinum market towards the end of December when it might be a little more clear as to whether or not price will remain above $1170-80$. If so, a stop at around $1140 should be good enough to be able to target the EMA200 during the first couple of months of 2015.