Platinum (XPTUSD): $1,040 Target reached. Expecting a pull back.

XPTUSD reached our 1,040 Target on our long since October 31st, 2019 as seen on the buy call below:


The 1M Bullish Megaphone since September 2018 is still holding (RSI = 57.612, MACD = 6.190, ADX = 38.381, Highs/Lows = 74.3178) and in fact the 1,040 top was its Higher High as seen on the chart. We are now expecting its technical pull back which based on the previous 3 occasions should be within -11% to -14%. As a result this puts the Target Zone within 925 - 895. Note: see how harmonic the RSI sequences are both on the bullish and bearish legs of the Megaphone alike.

This short term pull back doesn't mean that we have turned bearish on Platinum. Our portfolio still holds long term buy positions and we have illustrated our long term bullish sentiment on the idea below:





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