Seems like there is some resistance in the 956 to 962 region. This may cause some consolidation before the next leg up. The question is how much retracement will there be (and for how many days). Is is worth taking a short position for the pullback? Thanks.
After such a impulsive move normaly I would expect at least couple days of consolidation. Indeed there is a flag in development on hourly timeframe. I think it will not drop below 940.
Keep in mind that correction might be more complex as unfolds.
Regards
JMNIK
⋅
@pablo82, what is the definition of "complex" correction? Thanks.
if you need more information look on web there is plenty free information on this.
JMNIK
⋅
@pablo82, Thanks Pablo! I understand what that means, but will still read up on it.
JMNIK
⋅
Hi Pablo, what is next for Platinum? It hit your target price and is now building a bull flag. Do you think it retraces a bit (bullish consolidation) for couple of days (or more?) or goes up for another 70 points immediately (the size of the flag pole)? If it retraces (it already touched 960 on the first day - Friday 1/6/17) how deep do you think it will go in the bull flag (940? or even lower)?
Thanks!