Predictive/Forecasting Model eyes the following probable target:
- TG-Lo = 999.8 - 11 JUN 2015
In terms of market geometry, overlay of 2 Geos is pointing to the nearing of a probable support in this long-term MONTHLY chart.
The 1-3 Line of the smaller Geo is likely to play a significant impact on future price action, and might be considered as a trigger line when watching for further price advance.
However, the underside extension of the larger Geo remains the true Line-In-The-Sand against any advance, but price is likely to remain at a distance from these levels for a while.
This represents a long-term play. In terms of Forex relevance, platinum is one of the rarest metal, and has the tendency to move or often lead the way among other precious metals. As this analysis suggests that a nadir is near or may have been reached, one should perhaps look at gold-sensitive Forex pairs, such as $AUD, $CAD, $CHF for a near-correlation in price action. Do not expect a one-to-one correlation, but a monthly or weekly chart could point to comparable tendencies - HINT: Look for a widening in platinum vs. gold as one possible leading indicator.
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However, this does NOT mean that $XPT won't go further down - What I an seeing in the Model is a lower low, although in the most immediate timeline, a limited upside reaction is expected. I believe that the 5'' point that is about to be defined will allow price to relax to the upside, and by answering to the Geo's Off-Set Rule #3, would reach the price level of Point-3 before recommencing a downward trend.
I will rebuilt an entirely new chart and post it in this or new thread shortly.